Credible Crypto Projects A Strong Breakout Coming For Bitcoin (BTC)
A leading crypto analyst, known as Credible Crypto, is calling a breakout for Bitcoin (BTC) as the top crypto asset keeps flashing bullish signals.
The analyst shared with his 318.7K followers that Bitcoin looks ready to rise straight to $50,000 levels after breaking through the triangle pattern.
We've broken the highs of our B wave, indicating that the triangle likely already completed earlier. Areas of interest are the same (green regions) if we get any dips, but as stated in my last video update at this point we may just shoot up straight to 50k+ ? $BTChttps://t.co/eTuchrrOfbpic.twitter.com/63bHFGEfAU
The analyst discussed the triangle structure in his latest video.
“The market looks good. Bitcoin continues to grind up and climb up. Looks excellent. This is exactly what we wanted to see. We’ve now broken the upper trend line of this potential triangle…
We keep seeing on the lower timeframe these smaller impulses… Now that we’re breaking out of this consolidation, the move-up should be aggressive. You could just explode at some point.”
According to the analyst, a breakout from the triangle structure brings massively down the odds of Bitcoin pulling back to as low as $36,000. But, he doesn’t rule out a correction down to $40,000 area.
He also noted that in lower timeframes, BTC’s market structure looks very similar to its price action back in March 2020 when the leading crypto asset made a fast recovery from the COVID-crash.
“This PA is giving me $3,000 vertical accumulation vibes. When bullzooka candle?”
At time of writing, BTC trades at $46,930, up 5% on the daily chart.
