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Bitcoin’s next surge could take BTC to $100,000 in 30 days
Bitcoin (Bitcoin) has been trading in a four-month consolidation range since February 28, which has brought uncertainty to investors. However, a prominent trader, Credible Crypto, believes that Bitcoin could reach $100,000 within 30 days of the start of the next surge.
The professional analyst, who is now called CrediBULL Crypto due to his current bullish prejudice, still predicts a bright future. According to a recent send ON Xthe trader doubled down on his positive outlook, making a bold price prediction.
In particular, he highlighted Bitcoin’s earlier momentum, which sent it ahead cryptocurrencypricing ranges from $38,514 to $73,805. In particular, this first impulse lasted 50 days, with gains of 91% accrued from January 23rd to March 13th.
BTC/USD Daily Price Chart, Pulse 1. Source: TradingView
Bitcoin Price Analysis and $100,000 Target
“The pulses that follow should be even more aggressive, and we are trading at 64k. Our next boost could take us to 100,000 within 30 days, and we still have about 6 months left until EOY.”
– Credible cryptocurrency (CrediBULL Crypto)
Credible Crypto’s predictions are based on the Elliott Wave Theory, which is very popular technical analysts in trend analyses. The theory says that a bull market is composed of five waves, of which three are “impulsive” waves. Usually, the third wave is the most aggressive and allows for higher earnings in a shorter time frame.
With Bitcoin trading at $64,260, a surge to $100,000 would result in gains of 55%, lower than expected. However, the “$100,000” level marks an important point psychological resistance and a goal that many investors are eager to achieve. This could create selling pressure in this price zone, slowing down the third wave.
Interestingly, competing traders have already planned their own exit strategy, setting the $130,000 level as the initial target. Others, like Alan Santana, believe in a continuation of the uptrend to $150,000 for BTC.
On the other hand, Bitcoin has shown signs of weakness from to fundamental prospect. For example, the miners capitulated, selling at a higher rate after years of operating underwater. Therefore, these analysts’ projections will depend on positive developments and fundamental improvements for the leading cryptocurrency that faces stiff competition.
Disclaimer: The content of this site should not be considered investment advice. Investing is speculative. When you invest, your capital is at risk.