Credible, one of the well-known analysts of the cryptocurrency world, Bitcoin 
$68,545He thinks that (BTC) could start a rally to record highs soon. While the analyst states to his 433,330 followers on social media platform
Technical Outlook and Critical Levels
The yellow line highlighted by Credible in its analysis stands out as an important support level in Bitcoin’s market trends. This level, which becomes more evident especially in the monthly time frame, may play a critical role in the recovery process of BTC.
“On the lower timeframes we see BTC forming a bottom towards its all-time high,” Credible says.
According to the analyst, Bitcoin may experience another minor correction before this rally. According to long-term expectations, this move could be the beginning of the most aggressive rise above the $100,000 level.
Is the Intimidation Market Still Effective?
Credible expects a major upward wave after the current correction process. While the analyst emphasizes that the intimidation market is not yet completely over, he states that the market still needs to mature for Bitcoin to reach new record levels. He states that this process means that the Bitcoin bull market may extend into next year.
Current Status of the Market
At the time of writing, Bitcoin was trading at $69,080. While this price attracts the attention of market participants, it also stands out as an important resistance point in the short term.
For Bitcoin investors, Credible’s analysis can be an important guide to understanding market direction. Still, investors are advised to be wary of market fluctuations and consider risk management.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
