A closely watched crypto strategist believes that Bitcoin (BTC) is forming a technical pattern that could send the leading digital asset skyrocketing by market capitalization.
Pseudonymous analyst Credible Crypto tells his 347,100 followers on social media platform
“Some call this a ‘cup and handle.’
I call it a ‘moon bucket’.
It is literally in the graph.”
With Bitcoin trading above $30,000, analyst says believes that BTC will “go a lot higher a lot faster” than most market participants can imagine, leading to rally towards its medium-term target.
“$30,000 BTC has been tested for the third time. How many more tests do we have to run before we go through it and teleport to $40,000?”
In the long run, Credible Crypto thinks that the price of Bitcoin could reach a six-figure price tag.
“BTC ideally close to $100,000+, ETH not sure, but likely new highs.”
While the analyst appears to be extremely bullish on BTC, he notes that Bitcoin is still within the possibility of retesting its support around $28,700.
“A beautiful weekly close – regaining the level of almost two months ago, which led to the largest liquidation event we have ever seen since the collapse/bottom of the FTX at $15,000.
If you’re lucky, we’ll get a clean retest of the green zone before we move on.
Send it. BTC.
At the time of writing, Bitcoin is trading at $30,682.
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Generated image: Midjourney
