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Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan

Crypto Analyst: April Is the Last Month to Buy Cheap BTC, Bitcoin Price Never Again $3K

Tony Spilotro by Tony Spilotro
4 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
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As Bitcoin’s current trading range tightens and price consolidates ahead of the next major trend-defining move, the entire crypto community is speculating on whether or not Bitcoin price may have bottomed or if there is more pain to come for BTC investors.

One prominent crypto trader and analyst is confident that Bitcoin price will never again trade in the $3K range, and that April will be the last month to buy “cheap BTC.”

Bitcoin Price Bottoming Pattern Suggests Cheap BTC Ends This April

Volatility has all but disappeared in Bitcoin price charts. When this happens, it typically indicates that an extremely violent move is incoming that could set the trend tone for weeks and even months to come.

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The last time Bitcoin price went through an extended period of stability, was right before the powerful break of critical support at $6K that brought us to our current trading range. If the touch of the current bear market low of $3,150 was indeed the bottom, the next major movement could be up and send the first ever crypto back on a course of bullish expansion. But if price continues to trend downward, another 50% drop isn’t out of the question.

Although prices may appear to be random (to some), they actually create repeating patterns and trends.

Observing this pattern makes April the last month of cheap $BTC.

And now, of course it will be cheap multiple times in the future, but never $3K cheap. $BTC pic.twitter.com/LFGfJBYdnz

— Galaxy (@galaxyBTC) March 13, 2019

One prominent cryptocurrency analyst, GalaxyBTC, however, expects the current trading range to expire starting in April 2019. The analyst’s chart demonstrates the price structure of the previous Bitcoin bear market making three touches of a downtrend line that were violently rejected. After the third touch, BTC breaks through with gusto and reignites the next bull market with a slow, yet steady ascent.

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Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term

Comparing the current bear market BTC price structure, the trader believes there will be a final rejection when Bitcoin touches the downtrend line once again in the coming days, followed by a final swing up that breaks through the downtrend resistance and restores confidence in the market.

The first touch of the downtrend was created when Bitcoin’s parabolic advance was broken in late December 2017, and the most recent touch was when Bitcoin exploded below $6K. The third and final touch before breakout is expected any day according to GalaxyBTC’s charts.

Bitcoin Price: BTC Never Again Below $3K

Not only does the trader expect the end of “cheap BTC: to come to an end in April, which is only a mere month away at this point, the crypto analyst also believes that this marks the last time Bitcoin will ever trade in the $3K range.

He further clarifies that while Bitcoin will occasionally reach other price points that can be perceived as “cheap,” the price per BTC will never again be “$3K cheap.”

Related Reading | Crypto Comeback: One Simple Chart Proves Altcoin Season Is Upon Us

Bitcoin’s current bear market bottom reached $3,150 and made a quick bounce. Since then, the price hasn’t retested what appears to be the ultimate low, suggesting that those who missed out on buying that low will be forever waiting for their opportunity to buy the elusive BTC price bottom.

Featured image from Shutterstock
Tags: Bear marketbitcoinbitcoin pricebtcgalaxybtc
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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