An analyst who continues to build a following for his timely Bitcoin (BTC) predictions believes the crypto king is gearing up for an impending surge to the upside.
Pseudonymous analyst Credible Crypto tells his 353,400 followers on social media platform
According to the analyst, Bitcoin’s steep decline yesterday pushed BTC to the low point he calls the “demand zone.” If BTC takes control of the demand zone, Credible Crypto sees the flagship digital asset rise to $40,000.
“We worked with the same range in one of my recent video updates, where I called for a move to the lows in the range from the highs at $38,000. That move down ended with a $35,500 fuse, which is in the blue circle below.
The region we climbed from was a key demand level formed by an anomaly below the lows.
If this whole consolidation is a larger accumulation range, that demand zone should remain.
This is why a wick below the lows of $35,500 is fine as long as the higher timeframe demand zone is not breached.”
Fellow analyst Kaleo is also bullish on Bitcoin after its recent corrective move. The trader shares a chart with his 605,900 followers on X, which also shows BTC rising to $40,000.
‘And there you have your dip. Blood can be bought.”
At the time of writing, Bitcoin is trading at $36,113.
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Generated image: Midjourney