According to the crypto analyst, who is known in the crypto money markets with his accurate Ripple predictions and is known as the “Ripple prophet”, Bitcoin is preparing for a strong rally to $ 55,000, but there is one thing to be aware of. Details cryptocoin.com‘in.
Ripple seer gives level for Bitcoin
A closely followed crypto strategist and trader predicts a strong Bitcoin bounce. But he also warns that the recovery will not be in a straight line. The crypto analyst, nicknamed Credible, told his 282,400 Twitter followers that he believes Bitcoin (BTC) has formed a local base and is now ready to ignite a rally. Analyst: “There is a sweep of our bottom points that I’m looking for. The lows swept, with Bitfinex bidding a hit of $45,000. “Now the way is clear for us to relax at levels up to $55,000+.”
Credible predicts that while Bitcoin is in a long-term bullish position, BTC will take a higher position below $55,000 before another major correction. Analyst says:
A minor update to the idea: I think we’ll see some relief in the next week or two, but then another swing below $42,000 but above $30,000 to complete our flat structure.
The crypto analyst uses Elliott Wave theory, a technical analysis approach that predicts future price action by following crowd psychology, which tends to manifest in waves. According to Credible, Bitcoin is still in the middle of the fourth wave, which is the correction phase of a five-wave uptrend. The crypto trader says that a move below $40,000 will complete the fourth wave and put BTC in a position to ignite the fifth and final wave on its way to break above $100,000 by July 2022.
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