A crypto expert has revealed the exact time that he believes may be the right time to sell Bitcoin (BTC) for high returns. In support of his prediction, the expert highlighted the history that has been showing a significant change in the Historical history of BTC. He added that past patterns can be used to determine the best exit points for trades in ongoing trends.
Expert Reveals Best Time to Trade Bitcoin
Crypto market expert Merlijn The Trader is he warned that Bitcoin may be approaching a major change, encouraging traders to consider selling their coins to increase returns. Writing on X, he predicted that BTC could go another sharp correctionit is a possible target near the $33,000 level, one of its lowest points.
Collaborative Reading
The expert is warning traders to “sell in May and go,” arguing that Bitcoin could take a hit new top around in the month of May, followed by a decline that can lead to the loss of many cows that fail to turn out early. He pointed out Bitcoin’s cyclical retracement which has been consistent with major market peaks around May in the intervening years.
Merlijn The Trader’s profile is updated once a day. He said that during the Bitcoin period of 2014, the market peaked in May before dropping nearly 61%. In 2018, the same peak in May led to a significant fall in prices of about 65%. Furthermore, in 2022, the same pattern was repeated, with Bitcoin making a May high that caused the market to fall by 66%.
Between these three periods, the timing of the peaks has been consistent, with May serving as a transitional period before the peak. In particular, Merlijn The Trader believes that the current market is also following these past trends.
Based on its recurring structure, the researcher estimates a potential drop of around 60.73% when Bitcoin hits the market which is likely this May. I am BTC is currently trading above $78,000such a large drop would put the price closer to $33,000.
Expert Explains Bull and Bear Stories on Bitcoin
In another analysis, crypto expert Ted Pillows they predict two possible events near the time of Bitcoin when its price is around $78,000. The expert explained that, because level of $75,000 has been very supportive of Bitcoin in the past few weeks, he believes that the cryptocurrency can be preparing for another big meeting.
Pillows said that Bitcoin is now approaching a difficult resistance area around $78,000 to $80,000. He said this district is where the real test will begin. According to this expert, if Bitcoin can recover and maintain this, the next move would be to jump to fill it. Chicago Mercantile Exchange (CME) gap about $86,000.
The chart also shows this very clearly, following the path that BTC is expected to take towards the upper CME. Once the price approaches $86,000, Pillows predicts a sharp pullback to the previous $80,000 range.
Collaborative Reading
In his prediction, the analyst noted that if Bitcoin is rejected around $78,000 to $80,000 resistance, it could trigger a major correction, which could push the price to the level of $70,000 before a new breakout. A further decline in this area could lead to further declines to $66,318.
Image taken from Unsplash, chart from TradingView
