Analyst Commented! What’s Next for Bitcoin?

The popular analyst known as Credible in the cryptocurrency market, in a statement to his 338,200 followers on Twitter, conveys his views on what awaits the Bitcoin price in the coming months. According to the analyst, Bitcoin price will briefly break the resistance near $25,600. But he will come back later to test this place as critical support. According to the analyst, the downturn will form the basis for a major rally to follow. He says that with the rally he mentioned, the Bitcoin price will move towards the resistance around $40,000.

“BTC has the potential to break past the top around $25,600, but it will come back later. The support area at $22,000 is especially important during this downturn. So what I’m talking about, it might come back and consolidate here for a while after crossing the top. It might struggle here for a while, but then I expect a gradual rise. Then a very rapid rise.”

Considering the current strength of Bitcoin, analyst Credible says that it is very unlikely to see the $18,000 area during the downturn.

“While the probability of testing $18,000 is very low, retesting here is not entirely zero. However, I think other scenarios outweigh given Bitcoin’s current strength and determination to rise.”

The analyst thinks that if Bitcoin price continues to remain bullish, the BTC price could make a rapid rise towards $40,000 after consolidating above $25,000 for a while.