A popular crypto analyst thinks Bitcoin (BTC) is primed for a massive pump, warning that traders might have to be “a little more patient” first.
The pseudonymous analyst Credible Crypto tells his 343,400 Twitter followers that he’s gearing up for some $10,000+ monthly candles for BTC.
The trader, however, warned on Monday evening that a Bitcoin price dip down to $29,100 could delay the top crypto asset’s major move up.
BTC did just that on Tuesday morning, dropping to a low of around $29,064. It’s trading at $29,105 at time of writing.
Says Credible of the price dip,
“$29,100 has been tagged, which means we just have to be a little more patient. This doesn’t change anything on the higher timeframes, just a pause in lower timeframe bullish momentum.”
“Decent chance that was our bottom as we still have a ton of shorts that need to exit their positions.
One more push up to finish off this first impulse then looking for a pullback to mid $0.50’s. If we hold that and produce another impulse, bottom is confirmed in my opinion.”
CRV is trading at $0.578 at time of writing. The 83rd-ranked crypto asset by market cap is down 3.7% in the past 24 hours.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney