It has been just revealed the fact that Bitcoin’s trajectory will explode, leaving traders baffled. Check out the latest reports about the matter below.
Bitcoin trajectory will amaze everyone, analyst says
A closely followed crypto strategist believes that Bitcoin (BTC) is forming a technical pattern that could send the top digital asset by market cap skyrocketing.
Pseudonymous analyst Credible Crypto said not too long ago on the social media platform X that Bitcoin is printing a bullish pattern on the hourly chart. He also made sure to state the fact that this may send Bitcoin above $33,000 in the near term.
“Some call this a ‘cup and handle.’
I call it a ‘moon bucket.’
It’s literally in the chart.”
Bitcoin is currently trading above $30,000, and the analyst believes that BTC will go “a lot higher a lot faster” than most of us can imagine.
“$30,000 BTC has been tested for the 3rd time. How many more tests until we rip through it and teleport to $40,000?”
Regarding the long term, he believes that the price of Bitcoin can reach a six-digit price tag.
“BTC ideally close to $100,000+, ETH not sure but probably new highs.”
He continued and explained the following:
“A beautiful weekly close – reclaiming the level from which we broke down from nearly two months ago that led to the biggest liquidation event we have seen since the FTX collapse/bottom at $15,000.
If you’re lucky we get a clean retest of the green zone before continuation.
Send it. BTC.”
Bitcoin dominance explodes
Bitcoin’s dominance in the crypto market has been able to explode to over 49%. This means that the king coin is now at highest point in more than two years, according to The Block’s data dashboard.
According to the same online publication, it seems that Bitcoin’s dominance has experienced a steady rise, moving from approximately 38% at the start of this year to reach 48.85% on October 21. It is really important to note the fact that this is the highest level observed since April 2021.
Check out the latest reports about this in our previous article.
