A closely followed crypto strategist believes Bitcoin (BTC) is forming a technical pattern that could send the largest digital asset by market cap soaring.
The pseudonymous analyst Credible Crypto tells his 347,100 followers on the social media platform
“Some call it ‘cup and handle.’
I call it a “moon bucket.”
It’s literally on the chart.”
Source: Credible Crypto/X
The analyst said Bitcoin is trading above $30,000 believes that BTC will rise “much faster, much higher” than most market participants can imagine, leading to rally towards its medium-term target.
“$30,000 BTC tested for the third time. How many more tests will it take before we get there and teleport to $40,000?”
Long term: Credible Crypto thinks that the price of Bitcoin can reach six figures.
“BTC ideally over $100,000, ETH not sure but probably new highs.”
Although the analyst seems extremely bullish on BTC, he notes that it is still possible that Bitcoin retests its support at around $28,700.
“A beautiful close to the week – regaining the level from which we collapsed almost two months ago, resulting in the largest liquidation event we have seen since the FTX plunge/trough at $15,000.”
If you’re lucky, we’ll get a clean green zone retest before the sequel.
Send it. BTC.
Source: Credible Crypto/X
At the time of writing, Bitcoin is trading at $30,682.
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