Famous crypto analyst Cred, who is followed closely by crypto money investors, made important statements about the leading cryptocurrency Bitcoin.
The famous strategist and analyst stated that Bitcoin’s price correction is a big bear trap. Cred shared the path of Bitcoin with his followers in the YouTube live broadcast attended by 32,600 people.
Stating that the most important point for Bitcoin is $ 59,000 weekly, the analyst reminded that there was a closing above it before.
Emphasizing that the market is declining for the time being, but that it will remain at the lowest point of last week at $ 54,000, the analyst also admitted that it is time to rise again.
BTC Has A Bear Trap
According to the analyst, this drop is a big bear trap. The bear trap can actually be defined as the liquidation of the loaded short positions opened after a sharp decline, that is, the start of an uptrend.
The analyst is confident that Bitcoin will see $ 60,000 again and the rise that started from here can result in a new record.
It seems that Bitcoin has not yet pinned the $54,000 support and we may be far from danger. According to the famous analyst Cred, the Bitcoin price is expected to reach this point and rise.
*Not Investment Advice.