In a recent update, Credible Crypto, a prominent crypto strategist with a substantial following, has shared his perspective on Bitcoin’s current rally, hinting at the possibility of a significant upswing.
Credible Crypto, followed by over 346,500 users on the social media platform X, has expressed optimism about Bitcoin’s near-term prospects. He believes that the ongoing rally could be the beginning of a much larger move to the upside, potentially amounting to a substantial increase in the range of $5,000 to $10,000 within a matter of weeks. However, he adds that this bullish scenario would be officially confirmed if Bitcoin manages to break through the crucial $28,000 level.
While a corrective pullback might be considered normal after Bitcoin’s recent surge, Credible Crypto suggests that the cryptocurrency could defy expectations and continue its upward trajectory without a significant retreat. Such a move, he notes, is not unprecedented, especially during parabolic advances or when Bitcoin experiences exceptionally strong upward momentum.
Credible Crypto also points out that Bitcoin has recently broken out of an ascending triangle formation on lower timeframes, which could potentially pave the way for a push beyond the $28,000 mark. Despite the logical expectation of a downward move, he suggests that Bitcoin might surprise observers by continuing its ascent.
As of the time of this report, Bitcoin is trading at approximately $26,530.