A well-known crypto analyst and trader predicts a significant upward surge for Bitcoin (
BTC
) in the near future. Going by the pseudonym Credible, he shares his insights with his 433,330 followers on the social media platform X, suggesting that Bitcoin is on the verge of a rally towards its all-time high of approximately $74,000.
However, Credible cautions that this rally may be deceiving, intended to ensnare overly optimistic BTC bulls. He observes that on shorter timeframes, Bitcoin appears to be setting a foundation for a move towards its all-time high, pointing to a crucial retest level marked by a yellow line on his chart.
Highlighting his perspective on the higher time frame, Credible believes that Bitcoin will experience one final price drop before embarking on a genuine rally towards $100,000. He emphasizes that the bull market is still intact, with the most significant upward wave yet to come once the current consolidation phase concludes.
Regarding the timeline for Bitcoin’s surge to new all-time highs, the analyst anticipates that the bull market will kick off next year, ruling out the possibility of reaching new highs before the end of the current year. As of the latest data, Bitcoin is trading at $69,080.
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