A popular crypto strategist and trader believes that Bitcoin is ready to regain its bullish momentum.
The pseudonymous trader, known in the industry as Credible Crypto, tells his 235,800 followers that Bitcoin is not in a bear market even after the king crypto’s drop to a 30-day low of $43,285.
“No, we aren’t magically in a bear market now lol. This was just the region from which we were ‘most likely to see a mid-term rejection.’
We’ve had this level on our radar for nearly two months now. Relax, zoom out, and stack sats (satoshis).”
Source: Credible Crypto/Twitter
The analyst references a forecast that he posted back in June where he accurately predicted that Bitcoin will climb above $50,000 before going through a steep correction.
According to the trader’s chart, BTC is forming a large symmetrical triangle. Should BTC follow Credible’s script, the king crypto could potentially revisit $50,000 and then retrace to $45,000 before launching a