A popular crypto analyst thinks Bitcoin (BTC) is primed for a massive pump, warning that traders might have to be “a little more patient” first.
The pseudonymous analyst Credible Crypto tells his 343,400 Twitter followers that he’s gearing up for some $10,000+ monthly candles for BTC.
The trader, however, warned on Monday evening that a Bitcoin price dip down to $29,100 could delay the top crypto asset’s major move up.
BTC did just that on Tuesday morning, dropping to a low of around $29,064. It’s trading at $29,105 at time of writing.
Says Credible of the price dip,
“$29,100 has been tagged, which means we just have to be a little more patient. This doesn’t change anything on the higher timeframes, just a pause in lower timeframe bullish momentum.”
The analyst is also bullish on the decentralized finance (DeFi) altcoin Curve (CRV), noting that a lot of shorts on the asset are underwater.
“Decent chance that was our bottom as we still have a ton of shorts that need to exit their positions.
One more push up to finish off this first impulse then looking for a pullback to mid $0.50’s. If we hold that and produce another impulse, bottom is confirmed in my opinion.”
CRV is trading at $0.578 at time of writing. The 83rd-ranked crypto asset by market cap is down 3.7% in the past 24 hours.
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