A popular crypto analyst says Bitcoin is firmly on its way to $14,000. The only question is how long it will take.
The strategist, known in the industry as Credible Crypto, tells his 56,000 followers on Twitter that BTC needs to push past a line of monster resistance and reach $10,500 to clear the way for its next major move to the upside.
If the leading cryptocurrency can’t make it happen soon, the analyst says one final move to the downside is in store.
“With Step 1 and Step 2 completed, the last barrier between us and my 14k target is this 9.7k-10.5k region.
If we break it now, 14k+ will likely come soon after. If we reject it, we will get one last dip before breaking it. Either way, 14k+ is coming in my opinion.”
After Bitcoin’s rise to the psychological level of $10,000, analyst Josh Rager says he’s hoping BTC can stay above $9,500 in order to hold onto its momentum.
He cautions that traders should be prepared for Bitcoin to inevitably endure a significant correction after its rapid rise from its low of about $4,000 on March 12th.
“Not worried about pullbacks yet at this time, heck of a daily close. If price can hold above $9,150, not really worried about dips, preferably above $9,500s but always ready for a scam wick.
Bitcoin eventually has to correct hard, but it still looks strong.”
Bitcoin is at $9,912 at time of publishing, up 7.24% in the last 24 hours, according to CoinMarketCap.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. » Read Full Article «