Bitcoin Poised for 'Historic Expansion' Based on Rare Indicator, Says Crypto Expert

Crypto Expert Predicts Historic Bitcoin Rise as Rare Indicator Flashes

Noted crypto commentator, Credible Crypto, informs his audience of over 344,900 that Bitcoin is currently in a significant compression phase, often seen as a prelude to substantial growth. Referencing a chart from fellow expert, TechDev, he emphasizes that such compression on BTC's three-week chart has consistently heralded bull markets since 2012. Credible Crypto remarks, 'Anticipate a historic surge. Viewing this chart and predicting a drop to $10,000 seems misguided. BTC is like a time bomb, signaling the end for bears.'

Source: TechDev/X

Despite Bitcoin's stagnant price activity causing concern among many enthusiasts, Credible Crypto believes this is merely a consolidation phase, typically a bullish sign. He comments, 'Sideways price movement indicates a balance between buyers and sellers, which is essentially neutral. Historically, consolidation often leans towards the preceding trend. Given Bitcoin's evident uptrend since hitting $15,000, it's logical to anticipate an upward resolution. It's advisable to maintain a bullish perspective on BTC, unless there's a significant shift in the bullish market structure.' He highlights the pivotal price point of $24,800 on his chart

Source: Credible Crypto/X

Aug 13, 2023

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