bitcoinlast rally in BTC‘s over $26,000, the highest level in the last nine months.
While investors are wondering in which direction Bitcoin will move at this point, they are also hesitant about whether the rally has started.
Popular cryptocurrency analyst commenting on Bitcoin’s price movements in this context Credible Cryptoshared a video on his Twitter account, claiming that there could be a meteoric rise in BTC.
However, the analyst, who believes that Bitcoin will go through a short consolidation period before this rise, BTCHe stated that the coin has a resistance at $25,600.
Expecting some pullback from here, Credible Crypto, this fix is probably about approx. $40,000 a great resistance bitcoin He argued that he would prepare the ground for the rally.
The analyst stated that he believes that if Bitcoin continues to rise aggressively, BTC could consolidate above $25,000 before rapidly rallying to this $40,000 target.
“We could potentially test these highs of $25,600 and then come back.
Here, $22,000 levels will be an important support area for now.Therefore, the fact that we experience some pullback after the peaks and consolidate a little more will prepare the ground for our continuation for a gradual rise to be experienced afterwards.
This picture certainly seems possible for Bitcoin.”
The analyst, who is waiting for a pullback in Bitcoin, said that this pullback will not be up to $ 18,000, given the recent increase in Bitcoin, and said that these levels are no longer very likely for BTC.
New market UPDATE! $BTC rallies over 25% off of our major buy zone in a single bullish candle, breaking our local resistance and consolidating just below local highs. Watch below to see why this might just be the START of a major, multi-month rally. pic.twitter.com/NjRlOuaYHa
— CrediBULL Crypto (@CredibleCrypto) March 14, 2023
Up 13% in the last 7 days bitcoin At the time of writing, it continues to trade at $ 24,931.
*Not investment advice.
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