A crypto analyst winning the field for Bitcoin calls in a timely manner describes a scenario where BTC is released from lateral trading and overvoltages to the new heights of all time.
The credible pseudonym analyst tells his 468,700 subscribers on the social media platform X that Bitcoin seems to follow a model of Elliott Wave (EW) where BTC is consolidated in the coming weeks before lighting a rally in small groups towards the end of July.
Elliott Wave Theory is an advanced form of technical analysis which aims to predict future price movements by following the psychology of crowds, which often takes place in recurring wave models.
Said credible,
“BTC is very good in the past few days.
As indicated in my last update, I think we will test the blue zone sooner or later, whether before or after taking our local range.
From an EW point of view, something like it would be ideal. Although there are, of course, some different structures that we can see to complete this correction, the structures which lead to stricter compression before expansion are always preferred because a substantial decrease in volatility / compression generally leads to a stronger escape afterwards.
The emphasis must remain on the key levels (blue zone and range area) in terms of areas of interest. »»
Based on the trader’s graphic, it seems to suggest that Bitcoin will be briefly rally over $ 110,000 before going up to $ 100,000 to prepare for a overvoltage in small groups.
As for the Altcoin market, Credible thinks that the alts will attend huge rising gusts despite concerns about sources of liquidity. According to the analyst, cryptographic investors had the same liquidity worrying about Bitcoin when he traded below $ 30,000, and now BTC is worth $ 107,417.
“Stop worrying about” hence the liquidity will come “for the alts.
At this stage, the crypto is like a tear in the ocean – there is a lot of liquidity there. »»
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