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An analyst who continues to build a following with timely Bitcoin (BTC) calls believes that the crypto king is gearing up for a fresh move to the upside.
Pseudonymous analyst Credible Crypto tells his 360,200 followers on the social media platform X that Bitcoin is in a position to skyrocket as long as it trades above support at $40,000.
“Just tagged the key level I had marked off on my last BTC update. I think this green region holds and as long as it does, we should see an explosive move to the upside in the coming days.
BTC is about to take center stage again.”
According to the analyst, market participants are currently preoccupied with trading altcoins while the deep-pocketed investors are accumulating the Bitcoin dip.
“A few days of calm over the crypto world as the serious players accumulate BTC before its next leg to $60,000+ while your average CT’er (crypto Twitter) is busy buying ‘the next BONK’.”
Looking at BTC’s short-term price action, Credible Crypto predicts that Bitcoin will hit $40,000 one more time before igniting a steep rally en route to a new 2023 high in the coming days.
“Bitcoin.”
At time of writing, Bitcoin is trading for $41,974.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/galacticus
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