Renowned strategist and trader Credible Crypto believes Bitcoin is poised to regain its bullish momentum. He noted that Bitcoin is not currently in a bear market, even after the price fell to a 30-day low of $ 43,285.

“No, we are not currently in a bear market. This is precisely the area from which medium-term rejection is more likely. We have been watching this level for almost two months now. Relax, zoom out, and stack sats (satoshi) ”.

The source: Credible crypto

The analyst cites a forecast released in June that Bitcoin will surpass $ 50,000 before a steep correction.

According to the trader’s chart, BTC forms a large symmetrical triangle. If BTC follows this scenario, the price could return to $ 50,000 and then drop to $ 45,000 before initiating a rally to new all-time highs.

Seasoned trader Tone Vays also offers an optimistic look at the Bitcoin price outlook in a Video Recently updated on youtube channel. He believes Bitcoin is in the middle of a long bull market cycle and predicts that the price will soar more than five times from current levels and that this rally in BTC will last longer than the last one (28 months from a technical point of view). .

He points out the possibility that the bull market will end in 2022 but could also extend into 2023.

“I would like to see how this bull market moves through 2023. Expect prices to peak at a quarter or a third of a million dollars in 2023 before falling 80%.

And it’s going to be a very interesting bear market because an 80% drop (from 2023) will cause a drop beyond halving, which has never happened before. “

Vays said many analysts and traders believe the current bull market started in late 2018. However, he believes it was triggered in March 2020.

With a medium-term rejection, Credible wants to buy Altcoins because believe The worst of the correction is over.

“Given that most of my altcoins have just hit the buy zones, I tend to think that the worst of the carnage is over.”

One altcoin this trader’s target is XRP, which ricocheted off after reaching the buy zone.

“This is just a dip purchase opportunity. Anyone who watches my last YouTube video on XRP will remember the “Wicked Zone”. Obviously it did its job. “

The source: Credible crypto

We invite you to join our Telegram for faster news: https://t.me/coincunews

At home at home

According to AZCoin News

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page