An influential cryptocurrency analyst spotted on Monday a “golden entry window” for Bitcoin (CRYPTO: BTC), serving as a launchpad for a new 4-year cycle.
‘Countdown To The Next Bitcoin Vertical Move’
In an X post, Ali Martinez stated that Bitcoin is nearing its “final discount” window before the next bull market.
According to Martinez, if the current fractal pattern holds, the period between Oct. 6 and Oct. 16 could emerge as a prime entry opportunity with a buy zone between $41,500 and $45,000. In other words, they believe Bitcoin's price still has significant downside.
“This could be the launchpad to start a new 4-year cycle. The countdown to the next Bitcoin vertical move has begun,” Martinez said.
Bitcoin Rallies Over Potential Ceasefire
Martinez’s prediction coincided with Bitcoin’s relief rally on Monday after President Donald Trump said that the U.S. held “very good and productive conversations” with Iran. Bitcoin hit an intraday high of $71,782, accompanied by a 55% spike in 24-hour volume.
How Long Before Bitcoin Bottoms?
The Puell Multiple indicator, which identifies market cycles by analyzing miner sell pressure, remains well short of “historical buy zones,” according to CoinMarketCap.
Meanwhile, the Awesome Oscillator, which compares recent market movements to historic market movements, flashed a "Buy" signal for BTC, according to TradingView.
Conversely, the Bull Bear Power indicator, which measures the strength of buyers and sellers, flashed a "Sell" signal. The Moving Average Convergence Divergence indicator also gave a bearish reading.
Price Action: At the time of writing, BTC was exchanging hands at $71,132.62, up 3.66% in the last 24 hours, according to data from Benzinga Pro.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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