A cryptocurrency analyst has identified a specific period that he believes may be the right time to sell Bitcoin (BTC) for the highest returns. To support his forecast, the analyst highlighted a recurring historical pattern that marked major bullish turning points BTC market cycles. He suggested that these past patterns could be used to determine the best exit points for traders in the ongoing cycle.
Analyst Reveals the Best Time to Sell Bitcoin
Crypto market analyst Merlijn The Trader does warned that Bitcoin may be approaching a major turning point, which is encouraging traders to do so consider selling your coins to maximize profits. In a post on X, he predicted that BTC may be heading towards another pointed correctionwith a possible downside target near the $33,000 level, which is one of his lower-cycle forecasts.
An analyst warns traders to “sell in May and walk away,” arguing that Bitcoin could take a hit fresh bike top in May, after which there will be a potential decline that could result in losses for many bulls who do not exit early enough. He pointed to Bitcoin’s repeating cycle pattern, which has historically coincided with major market highs around May in mid-cycle years.
By providing a price chart, Merlijn The Trader shows the BTC price movement from 2014 to the present. He noted that during Bitcoin’s 2014 cycle, the market peaked in May, followed by a decline of about 61%. In 2018, a similar peak in May was preceded by a massive price crash of around 65%. Moreover, in 2022, the same pattern repeated itself, with Bitcoin reaching its May high, which ultimately led to a market recession of 66%.
Over these three cycles, the timing of the highs remained remarkably consistent, with May marking a critical turning point before a sustained downward move. It is worth noting that Merlijn The Trader believes that the current market cycle is once again following historical trends.
Based on the repeating structure, the analyst estimates a possible decline of around 60.73% after Bitcoin reaches a potential market high in May this year. WITH BTC is currently trading above $78,000such a staggering drop would mean a price tag closer to $33,000.
Analyst presents bull and bear case scenarios for Bitcoin
In a separate analysis, cryptocurrency expert Ted Pillows predicts two potential short-term scenarios for Bitcoin as its price hovers around $78,000. The analyst explained this because level of $75,000 over the past few weeks has been a sturdy support for Bitcoin, in his opinion the cryptocurrency can be one preparing for another vital rally.
Pillows noted that Bitcoin is currently approaching a critical resistance zone around $78,000-$80,000. He said the real test would begin in this zone. According to the analyst, if Bitcoin is able to safely regain and maintain this range, the next move could be a jump to fill it Chicago Mercantile Exchange (CME) vulnerability. almost $86,000.
The chart also clearly shows this, tracing BTC’s projected path towards the upper CME gap. As the price approaches $86,000, Pillows predicts a pointed return to the previous $80,000 range.
In his bearish forecast, the analyst noted that if Bitcoin is rejected near the $78,000 to $80,000 resistance, it could trigger a larger correction, potentially pushing the price towards the $70,000 level before rebounding. A further decline in this area could also lead to a more steep drop to $66,318.
Featured image from Unsplash, chart from TradingView
