It’s been just revealed that there is a Bitcoin rally incoming this week. Check out the latest reports about all this below.
Bitcoin rally incoming
A trio of popular crypto analysts believes Bitcoin (BTC) is due to break out this week, but they all say the rally won’t likely happen in a straight line.
Pseudonymous crypto strategist Credible followers that he sees Bitcoin finally breaking out of its immediate resistance at $25,000, but only after BTC revisits support near $22,000.
“No change to this idea – still looking for a move down to GREEN or at least the swing low denoted by the RED X here before continuation to the upside to $25,000+.”
At the time of writing, Bitcoin is changing hands for $22,665. A move to Credible’s pullback target of $22,000 suggests a 5% downside risk for BTC.
Another popular crypto analyst also sees BTC taking a slight dip before igniting a rally to the upside.
Smart Contracter followers that Bitcoin could correct to $22,500 before surging above $25,000 this week.
“BTC triggered a false breakout/fakeout setup for me last week closing back into prior breakout range causing me to close my longs. Since then, it has made a full recovery to a new high in a clear five waves. Once again, [I’m] looking to buy any pullback to $22,500 early in this new week.”
In other news, Morgan Creek Digital managing partner Mark Yusko is forecasting when he thinks Bitcoin (BTC) will revamp into a new bull market.
He recently spoke in an interview with Stansberry Research.
Yusko says that Bitcoin’s recent market structure is indicative of a bottoming process. He also said that BTC is printing several higher lows and higher highs.
“and I’ve been arguing this for about ten days or so, and I’m not ready to absolutely call the bottom, but if you go back about a week ago and you watch a podcast I did…”