A closely followed cryptocurrency analyst claims that Bitcoin (BTC) is preparing for an even bigger surge in the leading cryptocurrency. The analyst suggests that Bitcoin will first experience a decline, followed by a significant rise.
Analyst’s Scenario for Bitcoin’s Rise!
Credible Crypto, the pseudonymous cryptocurrency analyst, suggests in a new analysis video that the rise in Bitcoin may continue. The expert analyst states:
This will likely be the beginning of a much bigger upward movement. We are talking about a thousand-dollar upward movement from $5,000 to $10,000 within a few weeks. This rise was officially confirmed with a breakout at $28,000.
The senior analyst emphasizes that it makes sense for Bitcoin to experience a corrective movement after its recent surge, but it is also possible for BTC to continue its rise, leaving investors behind. The expert says:
The maximum pain, or something that nobody expects or probably catches many people unprepared, is for the rise to continue without a significant pullback… We have seen this happen during parabolic advances or when Bitcoin enters a very aggressive trend during upward aggressive movements.
Critical Formation in Bitcoin!
Credible Crypto also highlights that Bitcoin has broken out of a rising triangle formation on a lower time frame and is likely to surpass $28,000. The analyst states:
It makes sense to see a move here, but we were able to get up.
In conclusion, the cryptocurrency analyst suggests that Bitcoin is preparing for a major rise and could surpass $28,000, but there is also a possibility of a decline. As of the time of writing, Bitcoin, the leading cryptocurrency, is trading at $26,530 according to data obtained from the website 21milyon.com.
