A closely watched crypto strategist believes that Bitcoin (BTC) is now positioned to witness multiple upside bursts, with shallow dips in between.
Pseudonymous trader Credible Crypto tells His 349,900 followers on the social media platform
According to the analyst, his bullish stance will remain valid as long as BTC trades above its void point of $34,079.
“If you’re still looking for $30,000, $31,000, $32,000 or even $33,000, you could be left behind. If this level is not exceeded (and I suspect it will not be), all those lower targets will not be achieved.”
With Bitcoin trading for $34,985, Credible Crypto say that BTC is likely to experience a series of rallies with little looking back.
“Now we continue to link momentum to $40,000+ (and new all-time highs).”
The crypto strategist for now say that it is still within the realm of possibility for Bitcoin to correct to $34,200 after BTC’s minor liquidation on Sunday.
“The doors to the lows in our range that we previously led are now open again – and that’s where I’ll be looking to see a shift in momentum back to the upside…
To be clear, this does not mean that we MUST hit the lows in the range to complete this correction. “The doors are open for lows again” simply means that it is now once again an attainable/healthy downside target. We could potentially reverse sooner, BUT if we don’t, the range lows are the most logical/likely place to see a reversal, and a move to those lows no longer changes the bullish structure on the low timeframe than it already has at the moment.”
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Generated image: Midjourney