A closely watched crypto strategist believes the recent Bitcoin (BTC) rally is setting the crypto king up for a much bigger rebound.
In a new video, Credible Crypto tells its 346,500 followers on social media platform
“This will probably be the start of a much bigger step up. We’re talking about a multi-thousand dollar move upward: $5,000 to $10,000 in a few weeks. This is officially confirmed by a payout of $28,000.”
The analyst says that while it makes sense for Bitcoin to witness a corrective move after the latest surge, he emphasizes that it is possible that BTC simply rallies and leaves traders on the sidelines.
“The maximum pain, or what no one would expect or likely catches many off guard, is simply continuing without a significant pullback… We have seen this happen during parabolic advances or very aggressive moves to the upside when Bitcoin starts to trend very strongly. ”
Credible Crypto also says that Bitcoin has broken out of an ascending triangle formation in a short time frame and is likely to go above $28,000.
“It makes sense to see a move down here, but we can only go up.”
At the time of writing, Bitcoin is worth $26,530.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on Tweet, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: DreamStudio