A popular crypto strategist and trader said that he still expects Bitcoin (BTC) to rise despite BTC’s failure to maintain its upside momentum.
The crypto analyst, who goes by the alias Credible Crypto, has 323,100 Twitter followers that the recent price action is insignificant and that “nothing has changed” for Bitcoin. stated.
“Nothing has changed. The 2nd to last green and last red circle are examples of weekday action above/below our weekly level. But without closing confirmation they mean nothing. If it gives me a close below the BLUE line, I’ll change my mind, but there’s no reason for that for now. BTC.”
On April 1, while Bitcoin was trading close to the $47,000 level, Credible predicted it would pull back to $40,000 before continuing its rally. The crypto strategist now says that Bitcoin bulls need to make a move soon to maintain the momentum.
“The weekly candle closed at our weekly level, so the level was maintained on a closing basis, but did not see much bullish response and is currently trading below this level. It must bounce between $38-39K and break above the weekly zone at the next close to continue the short/medium-term upswing. Bitcoin.”
In addition to its technical analysis, Credible also closely monitors its order books. Earlier this month, the crypto analyst reported that a large asset had placed large buy orders between $40,000 and $44,000. Credible now suggests that all of the major investor’s orders have been filled and a rally may be on the horizon.
“All offers are filled. BTC.”
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.