A closely followed crypto strategist believes that the recent Bitcoin (BTC) rally is setting up the crypto king for a much larger upswing.
In a new video, Credible Crypto tells his 346,500 followers on the social media platform X that he’s expecting bullish continuation for Bitcoin.
“This is probably going to be the start of a much larger move to the upside. We’re talking about a multi-thousand-dollar move to the upside – $5,000 to $10,000 within a couple of weeks. That gets confirmed officially by a break of $28,000.”
The analyst says that while it’s logical for Bitcoin to witness a corrective move after its latest surge, he highlights that it’s possible for BTC to just rally and leave traders on the sidelines.
“Max pain or what no one would be expecting or probably catch many off-guard is just continuation up without a significant pullback… We’ve seen this happen during parabolic advances or very aggressive moves to the upside when Bitcoin begins to trend very hard.”
Credible Crypto also says that Bitcoin has broken out of an ascending triangle formation on the low timeframe and is likely headed above $28,000.
“It makes sense to see a move down here but we could just get up only.”
At time of writing, Bitcoin is worth $26,530.