A closely followed crypto strategist believes that Bitcoin (BTC) is forming a technical pattern that could send the top digital asset by market cap skyrocketing.
Pseudonymous analyst Credible Crypto tells his 347,100 followers on the social media platform X that Bitcoin is printing a bullish pattern on the hourly chart that may send Bitcoin above $33,000 in the near term.
“Some call this a ‘cup and handle.’
I call it a ‘moon bucket.’
It’s literally in the chart.”
“$30,000 BTC has been tested for the 3rd time. How many more tests until we rip through it and teleport to $40,000?”
In the long term, Credible Crypto thinks that the price of Bitcoin can reach a six-digit price tag.
“BTC ideally close to $100,000+, ETH not sure but probably new highs.”
While the analyst appears to be extremely bullish on BTC, he notes that is still within the realm of possibility for Bitcoin to retest its support around $28,700.
“A beautiful weekly close – reclaiming the level from which we broke down from nearly two months ago that led to the biggest liquidation event we have seen since the FTX collapse/bottom at $15,000.
If you’re lucky we get a clean retest of the green zone before continuation.
Send it. BTC.
At time of writing, Bitcoin is trading for $30,682.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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