Parabolic Bitcoin Rally to the Six-Digit Level?
Credible on Crypto Twitter is speculating to his folowers that we’ll see Bitcoin rally to $150K by next year
Crypto Analyst Predicts Parabolic Rally for Bitcoin (BTC) – Here’s His Target and Timeline
“Credible is a popular practitioner of the Elliott Wave theory, an advanced technical analysis approach that attempts to predict future price action by following crowd psychology that tends to manifest in waves. According to the theory, a major uptrend goes through five distinct waves where waves one, three and five are upswings while the other two are corrective periods.
Looking at Credible’s chart, the analyst appears to be predicting that Bitcoin will begin its steep rally next month. According to Credible, he expects Bitcoin to skyrocket to around $150,000 next year.
Credible also says that the current sentiment is reminiscent of how traders and investors felt during the Covid-19 pandemic.
‘Heard almost exactly the same during the Covid crash in March [2020]. We went 20x soon after.’
In the short term, the crypto strategist sees Bitcoin rallying above $22,000”
