Credible Crypto: Bottom Is In For Bitcoin, Reversal Underway

According to crypto analyst known as Credible Crypto, Bitcoin (BTC) has hit a local bottom and is currently building a base for a reversal.

The top analyst shared with his 327.6K followers on Twitter Bitcoin (BTC) has finally formed a bullish divergence into a key level of support.

“Took a bit longer than expected but there we go- got our bullish div into our key level of support and saw a nice pop. I do believe our local bottom is in, may make another more in-depth update to share my thoughts here soon..”

Took a bit longer than expected but there we go- got our bullish div into our key level of support and saw a nice pop. I do believe our local bottom is in, may make another more in-depth update to share my thoughts here soon.. $BTC https://t.co/WRz8ZGbx0U pic.twitter.com/L5lJJSy9lF

— CrediBULL Crypto (@CredibleCrypto) April 18, 2022

Credible Crypto also projects that Bitcoin is building a base for reversal in the high $30K to low $40K, but it could take some time to happen.

“On LTF (long-term forecast) if we keep pushing would expect an initial rejection off of our lost weekly level followed by a pullback and further consolidation. I do believe that we are building a base for a reversal here in the high 30k’s and low 40k’s but will take some days to develop imo (in my opinion).”

On LTF if we keep pushing would expect an initial rejection off of our lost weekly level followed by a pullback and further consolidation. I do believe that we are building a base for a reversal here in the high 30k's and low 40k's but will take some days to develop imo. $BTC https://t.co/UGKhCbofDc pic.twitter.com/cD9CJ3gD6a

— CrediBULL Crypto (@CredibleCrypto) April 19, 2022

At the time of writing, BTC trades at $41,705.