A widely followed crypto analyst and trader believes Bitcoin (BTC) is gearing up for a major rebound.
Analyst known by the pseudonym Credible Crypto To tell His 393,300 followers on social media platform X claimed that Bitcoin could regain the $68,000 level within days.
“Not much has changed here, but things are starting to fall into place here with a lot of alternatives hitting my downside target/bounce zone. Although I can’t rule out the possibility of local demand plummeting further. , then we expect the easing/upward reversal we were looking for.''
Looking at his chart, the trader suggests that Bitcoin will likely see one more move below $60,000 before a sharp rebound towards the $68,000 resistance.
At the time of writing, Bitcoin was trading at $62,613, up 2.19% in the past 24 hours.
Next is the contractor To tell Cross-border payment network XRP could also rise alongside Bitcoin.
“While we have maintained the lower trend line from our previous tweet, price action is still corrective. We would like to outperform the $0.43 low (lower trend line) on a potential BTC rescue leg above $0.64 and back to $69,000-$70,000. May keep legs.
Simply put, if BTC rebounds quickly as expected, let's see how strong the reaction will be against XRP. If it is strong enough to break above $0.64, that would be a very good sign. ”
XRP is trading at $0.504 at the time of writing, up more than 1% in the past 24 hours.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me XFacebook and Telegram
Surf the Daily Hoddle Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: Mid Journey
