Bitcoin Price Analysis – BTC Bullish Reversal Pattern Forming

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Crypto Market Analyst says: Actual Bitcoin Chart Similar to the $20,000 Chart Inverted

An interesting analysis has been posted today from Bitcoin Jack (BTC_JackSparrow) on Twitter.  He posted two charts the ATH chart when bitcoin hit $20,000 in December 2017 and the actual chart inverted chart making a comparison between the two charts which look totally symmetrical.

In another bullish tweet, Jack noted the Bitcoin long term showcase cycles, underlining the halving dates which have been always positive for the bitcoin price. The crypto trader also noted that there’s a certainty to Bitcoin’s long haul price activity, taking note that technical analysis paters have been breached ahead to the next halving cycle.

Jack isn’t the only one being excited about the next bitcoin halving. Many crypto traders started expressing their optimism about the Bitcoin halving event. If history is an indicator then the cycle will repeat and bitcoin should be near the bottom and it is far from the reversal months or maybe just weeks. The bitcoin halving date is May 2020 so maybe we should see bitcoin moving upward in May 2019.

While many crypto traders have expressed their opinion that bitcoin has already bottomed there are others that do not share the same enthusiasm.

An interesting tweet about how bitcoin may be affected from gold price posted from @Super_Crypto

Other crypto bears think that a price decline under the $3,000 would open the door for more downside in the crypto markets. Trying to pick the exact bottom is a gambling game. Rather getting an average byy price would be more profitable in the long term.

Do you think we have hit the bottom or the bottom is not yet here?

Post your thoughts in the comments below.

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Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past.

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