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A popular cryptocurrency strategist is predicting a parabolic rally for Bitcoin this year as BTC breaks a key psychological resistance of $20,000.
The pseudonymous analyst Credible told his 335,700 Twitter followers that he believes this bear market is “officially” the bottom for Bitcoin.
“$21,500 compromised on futures exchanges. Spot exchanges hit just under $21,500, but now we see what we need. [The] In my opinion, below is officially in. Check out the $18,000 pullback (if we get it).
A move above $21,500 marks a new bull market for BTC, according to top analysts. propel, move King Crypt will set new all-time highs in the coming months.
“Come on, let’s go… [The] The next impulse has started or is imminent, and BTC’s dominance is predictably starting to surge out of the Teal region. A dominant mega run is expected as BTC hits new all-time highs in the next six months or so. ”
The crypto strategist also says that Bitcoin’s current market structure appears to flash the mood in September 2020, when Bitcoin solidified around $9,000 before exploding to $60,000.
“It’s happening. Also.”
Bitcoin is in the midst of a long-term bull market, with credible highlights that last year’s big correction was part of a five-wave uptrend. We believe we are about to start a 5th wave rally on our way to an all-time high of $150,000.
“Who is ready for the 5th wave to hit all-time highs in 2023? Bitcoin.
Elliott Wave Theory is an advanced technical analysis approach that attempts to predict future price action based on crowd psychology that tends to emerge in waves. This theory states that bullish assets participate in a five-wave rally, with waves 1, 3, and 5 marked by strong surges.
At the time of writing, Bitcoin is trading at $20,740, suggesting BTC could rise by more than 623% if Credible hits its target.
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Featured Image: Shutterstock/Larich
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