Crypto Strategist Sees Bitcoin Potentially Rallying to ,000 – But There’s a Big Catch

Crypto Strategist Sees Bitcoin Potentially Rallying to $68,000 – But There’s a Big Catch

A closely followed crypto strategist believes it is within the realm of possibility for Bitcoin (BTC) to witness an abrupt rally to $68,000.

Pseudonymous analyst Credible Crypto tells his 423,300 followers on the social media platform X that a relief rally is in sight for Bitcoin and the altcoin market.

But the trader warns that the rally will likely be short-lived and that Bitcoin will soon resume its bearish price action.

“As I’ve said I think some relief here shortly across the board would be ideal.

A couple of variations of low-time frame price action I can see playing out in the coming days.

Grand scheme of things: no change to my belief that this is just part of a larger correction to the downside.”

Source: Credible Crypto/X

Based on the analyst’s chart, he appears to predict that Bitcoin could rise to as high as $68,000 before plunging to fresh lows below $48,000.

At time of writing, Bitcoin is trading for $61,919.

Looking at Ethereum (ETH), Credible says the top altcoin’s order book supports his call for a marketwide bounce. According to the analyst, spot investors are stacking buy orders, preventing the price of ETH from going lower, at least for now.

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“Spot bid depth on ETH is especially juicy.

Increases the odds of some relief across the board soon in my opinion.” 

Source: Credible Crypto/X

At time of writing, Ethereum is worth $2,409.

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The post Crypto Strategist Sees Bitcoin Potentially Rallying to $68,000 – But There’s a Big Catch appeared first on BitcoinLinux.

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