It has been just revealed that Bitcoin could start rallying $10k a day, according to the latest reports. Check out the details about the new prediction that definitely blows traders’ minds.
Bitcoin could explode in price – bullish predictions ahead
At the moment of writing this article, Bitcoin is trading in the green, and the king coin is priced at $24,354.
A popular analyst predicts that Bitcoin (BTC) will experience a significant surge in value.
Credible Crypto, a trader who enjoys a large following of 348,000 individuals on the X social media platform, suggests that Bitcoin’s recent rise to a new 2023 high of $34,606 is only the beginning.
BTC’s weekly chart indicates that the relative strength index (RSI) is in bullish territory, indicating that Bitcoin’s momentum is strong and on the rise.
According to the trader, the most substantial moves take place when the RSI enters the overbought zone on higher timeframes, beginning with the weekly timeframe.
The trader predicts that the coming weeks will be even more dramatic than the recent price action.
With Bitcoin’s momentum on the rise, Credible Crypto predicts that BTC is now capable of producing massive one-day rallies.
The analyst believes that this month, Bitcoin could see its first monthly candle exceeding $10,000, with many more to come.
As per the analyst, there are no significant resistance levels left that could hinder Bitcoin from surging towards $40,000, especially now that it’s trading well above the psychological support of $30,000.
“Nah there is no resistance above us that was as significant as the one that we just broke through. The path up from here will be faster, more aggressive, and less forgiving to those who are on the sidelines than anything we have seen since the $15,000 bottom thus far.
Don’t overcomplicate it. It’s basically open-air till $40,000. Maybe then we get a pause but even that won’t last very long, in my opinion.”
