Bitcoin (BTC)Crypto News

Bitcoin is preparing for a strong rally to $ 55,000, according to top crypto analyst – but there is a catch

A closely followed crypto strategist and trader predicts a strong one Bitcoin– Upswing – but warns that the recovery will not be in a straight line.
The pseudonymous crypto analyst Credible tells its 282,400 Twitter followers that he believes Bitcoin (BTC) has hit a local low and is now ready to unleash a relief rally.

“There’s the swing of our lows that I’ve been looking for. Swept lows, Bitfinex offers hit at $ 45,000. Now think that we are clear for our discharge to more than 55,000 US dollars. “
Source: Credible / Twitter
Although Credible is bullish on Bitcoin long term, he sees BTC facing another significant one correction will print a lower high at $ 55,000.

“Little update on the idea below – I think we’ll see some relief in the next week or two, but then we’ll have another swing under $ 42,000 but over $ 30,000 to complete our flat structure.”
Bitcoin is preparing for a strong rally to $ 55,000, according to top crypto analyst – but there is a catch, Crypto Trading NewsSource: Credible / Twitter
The crypto analyst uses Elliott Wave Theory, a technical analysis approach that predicts future price movements by following mass psychology that manifests in waves. According to Credible, Bitcoin is still in the middle of the fourth wave, the corrective phase of a five-wave upward trend. The crypto trader says a move below $ 40,000 will complete the fourth wave and enable BTC to ignite the fifth and final wave on its way to above $ 100,000 by July 2022.
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Source: Crypto News Deutsch

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