A Crypto Analyst Predicts Bitcoin to Surge to New All-Time Highs

A crypto analyst gaining popularity for accurate Bitcoin predictions is outlining a scenario where BTC breaks out of its sideways trading pattern and reaches new all-time highs.

Analyst’s Insight

The pseudonymous analyst known as Credible, with a significant following on X, suggests that Bitcoin is following an Elliott Wave (EW) pattern. This pattern indicates that BTC will consolidate in the coming weeks before experiencing a breakout rally towards the end of July.

Elliott Wave theory, an advanced form of technical analysis, tracks crowd psychology to forecast future price movements through recurring wave patterns.

Credible states, “BTC has been holding up well recently. I believe we will test the blue zone soon, either before or after reaching our local range highs. From an EW perspective, a tighter compression before expansion is ideal, leading to a stronger breakout.”

According to Credible’s chart, Bitcoin is expected to briefly surpass $110,000 before a pullback to $100,000, setting the stage for a significant surge.

Altcoin Market Outlook

Credible believes that altcoins will experience substantial upside movements despite concerns about liquidity sources. The analyst compares current liquidity worries for altcoins to those once faced by Bitcoin when it was trading below $30,000, now valued at $107,417.

“Stop worrying about liquidity for alts. In the current market, there is plenty of liquidity available, similar to a teardrop in the ocean,” Credible reassures investors.

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