Bitcoin eyes a historic 6-month losing streak. The last time this happened, BTC surged 300%. Here’s what analysts are watching now.
Bitcoin is staring down a historic milestone, and not a good one.
The crypto closed red in October, November, December, January, and February. March ends Tuesday, and BTC is currently trading in the red.
A sixth consecutive negative monthly close would match the longest losing streak in Bitcoin’s entire history. The record was last set between August 2018 and January 2019.
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Bitcoin’s Historic Losing Streak Takes Shape
That 2018-2019 stretch remains the only comparable period in BTC’s history.
Back then, Bitcoin sat at roughly $3,400 at the end of the streak. What followed was a 300% rally over the next five months. Crypto analyst Jeremy flagged the parallel on X, pointing out the striking similarity between that period and the current one.
Trader XO also weighed in, noting that February 2019, the month right after the streak ended, posted an 11% gain. He was quick to acknowledge the sample size is just one.
Still, the data point adds context to what traders are watching heading into April.
Analysts Eye $55K-$60K as Key Support Zone
With March’s close approaching, attention is shifting to what April might bring.
Trader XO suggested that an early dip into the $55,000 to $60,000 range could create a strong setup for mean-reversion buyers.
He stressed, though, that the higher timeframe structure remains in control. Only a clear structural shift or an extreme event-driven selloff would change that outlook.
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Michaël van de Poppe shared a similar view. He pointed to the current consolidation as familiar territory, resembling Bitcoin’s behavior during past corrections.
In his read, BTC could continue ranging before sweeping lower. He identified $60,000 as the ideal long entry if that scenario plays out.
BTC Price Faces Pressure as Selling Continues
Per CoinGecko data at publication, Bitcoin is trading at $66,297. That marks a 0.52% decline in the last 24 hours and a 6.15% drop over the past seven days.
The weekly range ran between $65,604 and $71,682. Within the last day, BTC moved between $65,586 and $66,692.
Significant sell pressure from major entities has added to the bearish tone this week.
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The persistent monthly losses and large-scale selling has kept bulls on the defensive. Van de Poppe noted that a break above $71,000 would be the clearest signal of a trend reversal.
Until that happens, the broader structure favors caution.
Source: https://www.livebitcoinnews.com/bitcoin-risks-6-red-months-last-time-triggered-a-300-btc-rally/
