Famous crypto analyst Credible Crypto has attracted attention with his latest predictions about Bitcoin.
Renowned crypto analyst Credible Crypto has outlined two possible paths for Bitcoin to new records. Addressing his 419,300 followers on social media platform X, the analyst stated that Bitcoin’s current market structure is designed to put bearish investors in a difficult position.
According to the analyst’s assessment, Bitcoin bears are accumulating large short positions as BTC continues to produce lower highs.
Credible Crypto noted that these lower highs were actually misleading and were created to appease bearish investors, but that these positions would cause a major rally in the future with a short squeeze.
Short squeeze is defined as a situation where the price of an asset moves upwards contrary to expectations and investors in short positions are forced to buy back the asset, pushing the price even higher.
The analyst made the following statement:
The liquidity accumulation that pulls the price down on the lower timeframes is also creating upward pressure on the higher timeframes. These successive marginal lower highs and defended levels on each rise will eventually lead to a major breakout and upward movement. They are setting up the bears to take it down with a single big green candle.
According to the chart shared by Credible Crypto, it is predicted that Bitcoin may first fall to the levels of $ 45,000 or $ 55,000 and then rally to $ 80,000 and above.
Stay tuned for new information.
