Trader Predicts ‘Aggressive’ Upside Rally for Bitcoin, Unveils ‘Realistic’ Bull Market Price Target for BTC
A crypto strategist recognized for making well timed Bitcoin and altcoin calls is outlining a possible path for BTC to finish the present bull market with a bang.
Pseudonymous analyst Credible Crypto tells his 65,900 YouTube subscribers that Bitcoin seems to be within the fifth and closing leg of its secular bull market that started about six years in the past.
The dealer practices the Elliott Wave concept, which states {that a} bullish asset tends to witness five-wave rallies with wave 5 performing as the ultimate leg up previous to a correction.
Based on Credible, Bitcoin may witness a parabolic surge within the coming months to finish its fifth and closing wave.
“So we’re within the closing leg of the ultimate leg, for my part, of the cycle that began again right here in 2018 at $3,000 Bitcoin. Inside this closing fifth wave, once more the thought is that if this closing fifth leg up has began, which at this level it looks like it has, it must be reasonably aggressive…
The concept is that this fifth wave ought to typically be a blow-off high.”
The dealer can also be unveiling his bull market value targets for Bitcoin, predicting that BTC may realistically surge by almost 60% from present ranges earlier than transitioning to a brand new development.
“We may see this transfer up very aggressively. And the longer that we take down right here to maneuver up, meaning the upper we’re going to go. So once more, I beforehand stated above $100,000… $150,000 is practical based mostly on what we’ve seen to this point. However we may push as much as $200,000.
We may even push as much as $250,000 with my absolute max for this cycle being $300,000. I don’t assume we’ll get near $300,000 however we may see $200,000 to $220,000.
All of it simply relies on how aggressively we transfer up and the period of time we take to maneuver up. The longer that we take to complete off this transfer, the upper we’re going to go.”
At time of writing, Bitcoin is price $95,075.
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