According to the KOL Credible, bears will be “wiped out” when ETH and other altcoins bounce off

According to the KOL Credible, bears will be “wiped out” when ETH and other altcoins bounce off.

A prominent analyst predicts a strong rally in the crypto market after weeks of continuous sales.

The person known in the industry as Credible told his 293,800 Twitter followers that leading smart contract platform Ethereum (ETH) is poised to rebound as it sends out more bullish signals.

“The price has reached my target zone of $ 3,000 to $ 3,300, and ETH is now ready to recover. More bullish signals in lower timeframes on both USD and BTC pairs.

In my opinion, the likelihood of a price rally from current levels is higher than a decline. Aims for $ 3,500 (retest of outbreak). “

The source: Credible / Twitter

Looking at the Bitcoin (ETH / BTC) pair, the crypto strategist says he will be bullish on the pair and altcoins in general as long as it can hold above the 0.07 BTC ($ 2,984) support.

“People say that ETH / BTC looks bad here and I just want to ‘minimize’ it.

As mentioned in my Youtube video a few months ago, ETH / BTC had a clear breakout and as long as it holds ABOVE this level, ETH (and other altcoins) should bounce back from this decline.

I am accumulating. “

The source: Credible / Twitter

At the time of writing, the ETH / BTC pair is trading at 0.076 BTC, valued at $ 3,342.

Credible also looks at the extremely high Open Interest (OI) in Bitcoin, which represents the total number of long and short positions held by market participants. The crypto analyst predicts that the elimination of excess leverage in the market will unravel upwards and spark a strong rally for Bitcoin.

“What if the massive depreciation of open interest took place with an upward thrust instead of another downward movement?

What was seen in August 2021 when BTC bounced off the low of 30,000. Aggressive bears will be exterminated. “

The source: Will Clemente / Twitter

In August 2021, Bitcoin rebounded from a low of $ 37,332 to a high of $ 51,900 at the end of the month.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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