#bitcoin👌
Bitcoin Bears Are About to Throw in the Towel: Analyst Shares Price That Will Start Bullish!
19 hours ago
An analyst named Cred has once again come to the fore with his statements about Bitcoin.
Crypto analyst Cred stated that Bitcoin (BTC) bears are about to give up and the market maintains its strength. Cred told his 645,000 followers on social media platform X that Bitcoin's $64,000 level is a critical limit for bears.
According to the analyst, Bitcoin's weekly close above this important price area will change Bitcoin's market structure from bearish to bullish.
Cred stated that only lower peaks have been seen on the weekly charts so far, but a strong close above $64,000 could mean a long-awaited bullish breakout in the market structure.
The analyst stated that if Bitcoin exceeds $64,000 with a weekly close, two possibilities can come to the fore, emphasizing that these scenarios are either a massive bullish rally without a major pullback or a price pullback that will create a higher low after the breakout:
If too many long positions are opened, these positions can be closed quickly in a small pullback, and this pullback can create a higher low at a suitable level.
According to CoinGecko data, Bitcoin, which has increased by 2% in the last 24 hours, is traded at $63,349 at the time of writing.
