Credible Crypto, an influential analyst in the cryptocurrency world, predicted that Bitcoin (BTC) could reach historical highs (ATH) if it exceeds a certain price range. According to the analysis, he believes that if Bitcoin breaks the resistance in the $68,000 to $70,000 range, the cryptocurrency could continue its uptrend and reach new ATHs. However, he notes that Bitcoin could fall significantly if it fails to break through this key price range.
Credible Crypto to the analysis As Bitcoin approaches the $68,000 to $70,000 range, the chances of a comeback are decreasing. He warns that if this price range is rejected once again, Bitcoin could return to its previous lows. However, he predicts that if this critical range is breached, Bitcoin will likely rise rapidly to new highs.
In addition, according to the analyst, the leading digital asset Bitcoin has entered an upward trend as of Thursday. This increases the possibility of Bitcoin breaking the key resistance range and reaching new ATHs. However, the analyst emphasizes that the future course of the market is uncertain and the market must be watched carefully in order to clearly predict how events will develop.
“My main expectation for BTC right now is to create a nice range between $68,000 and $70,000, which is the local supply zone, before rising to new highs. The increase in open positions with this rise supports this idea, the only thing that is against it now is that our spot premium is back for the first time since $ 50,000.
If the spot offer continues, we may not see a rejection here. However, if the spot premium falls into supply and is once again replaced by permanent forward premiums, this [grafik] It is an indication that the probability of the scenario occurring is even higher.”
NEWS CONTINUES BELOW
The analyst suggests that if Bitcoin is rejected in the $68,000-$70,000 range, it could drop to around $63,000 and then recover to break resistance.
Bitcoin is trading at $66,092 at the time of writing. As a result, the performance of Bitcoin in the market in the coming days is of great importance for investors and therefore it is necessary to follow the developments of the market carefully.
You can access current market movements here.
