Bitcoin analyst Credible Crypto is making waves with his latest prediction for the future of BTC. According to the expert, Bitcoin is currently in the midst of a corrective wave two within a larger five-wave rally. Credible practices the Elliott Wave theory, which suggests that Bitcoin could see a final leg down before embarking on a new parabolic surge.
In a recent strategy session with his 67,800 YouTube subscribers, Credible Crypto highlighted the possibility of Bitcoin retracing to below $80,000 before making a strong move to the upside. According to the analyst, as long as Bitcoin stays above the $58,000 mark, the higher time frame structure remains intact. This potential dip could set the stage for a more aggressive rally, with Bitcoin potentially reaching as high as $150,000 to $230,000.
The chart shared by Credible Crypto indicates that Bitcoin’s upcoming move could be the most aggressive of this cycle, leading to a parabolic blow-off top. This final surge could mark the fifth wave of the cycle that began back when Bitcoin was trading at $3,000 in 2018. With Bitcoin currently trading at $97,987, the stage is set for an exciting period of price action.
As investors eagerly await Bitcoin’s next move, Credible Crypto’s analysis provides valuable insights into the potential future of the leading cryptocurrency. With the market poised for a significant shift, keeping a close eye on Bitcoin’s price movements could prove to be highly rewarding for savvy traders.
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In conclusion, Credible Crypto’s analysis paints an optimistic picture for Bitcoin’s future, with the potential for a substantial price surge on the horizon. By staying informed and monitoring market trends closely, investors can position themselves to capitalize on the opportunities presented by Bitcoin’s evolving price dynamics.