Analyst Predicts Bitcoin Will Rally After Holding $40,000 Support
A well-known analyst, known as Credible Crypto, believes that Bitcoin (BTC) is poised for a significant upward move. According to the analyst, as long as Bitcoin remains above the support level of $40,000, it has the potential to skyrocket.
Credible Crypto recently shared on social media platform X that Bitcoin has reached a key level that he had previously marked off. He anticipates that this support level will hold and expects an explosive upward move in the coming days.
The analyst also notes that while many market participants are currently focused on trading altcoins, wealthy investors are quietly accumulating Bitcoin during its dip. Credible Crypto suggests that these serious players are preparing for Bitcoin to reach $60,000 and beyond.
Looking at BTC’s short-term price action, Credible Crypto predicts that Bitcoin will revisit the $40,000 level before embarking on a steep rally towards a new high in 2023.
Currently, Bitcoin is trading at $41,974.
Hot Take: Analyst Anticipates Bullish Momentum for Bitcoin
Renowned analyst Credible Crypto predicts that Bitcoin is on the verge of a significant rally. As long as Bitcoin maintains its support above $40,000, the analyst expects a strong upward move in the near future. While many traders are focusing on altcoins, wealthy investors are quietly accumulating Bitcoin during its dip. Credible Crypto suggests that this accumulation is in preparation for Bitcoin’s potential rise to $60,000 and beyond. In terms of short-term price action, the analyst believes Bitcoin will revisit $40,000 before embarking on a steep rally towards a new high in 2023. Currently trading at $41,974, Bitcoin’s next move could bring exciting opportunities for crypto investors.
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