Bitcoin Price Surge Predicted by Crypto Strategist

Bitcoin's Bullish Pattern

Bitcoin (BTC) is on the verge of a significant price increase, according to crypto strategist Credible Crypto. A notable "moon bucket" or "cup and handle" pattern observed on the hourly chart suggests BTC could surpass the $33,000 mark. This technical setup is often a precursor to substantial upward movements.

Short-Term and Long-Term Projections

BTC, currently valued above $30,000, is anticipated to rapidly ascend toward $40,000. This forecast is grounded in historical patterns and market trends, including a major liquidation event and the FTX crash that saw BTC bottom at $15,000. In the long term, Credible Crypto envisions Bitcoin reaching over $100,000, while Ethereum (ETH) is also expected to achieve new highs.

Market Influences and Trends

A key factor in these predictions is a recent weekly close that marked a reversal of a two-month decline. This turnaround led to the largest liquidation since the FTX crash. A potential retest of the "green zone" could occur before Bitcoin continues its upward trajectory.

Bitcoin's Market Dominance

Bitcoin's market dominance has experienced a notable rise, reaching over 49% recently, the highest since April 2021. This marks a significant increase from approximately 38% at the beginning of the year. This dominance highlights Bitcoin's growing influence in the cryptocurrency market.

Credible Crypto's optimistic outlook on Bitcoin is encapsulated in his closing remark, "Send it. BTC.", signaling confidence in Bitcoin's future performance.