As investors eagerly await the launch of spot Bitcoin ETFs and the upward momentum of the largest cryptocurrency, closely watched cryptocurrency analyst CredibleCrypto said that Bitcoin's trend is very strong. The analyst predicts that Bitcoin will experience a significant increase and break through the key resistance of $40000 in the short term
As investors eagerly await the launch of spot Bitcoin ETFs and the upward momentum of the largest cryptocurrency, closely watched cryptocurrency analyst CredibleCrypto said that Bitcoin's trend is very strong. The analyst predicts that Bitcoin will experience a significant increase and break through the key resistance of $40000 in the short term.
A major change in Bitcoin is about to occur
Anonymous cryptocurrency analyst CredibleCrypto shared his views on social media platforms, stating that Bitcoin has begun to prepare for a stronger rebound, especially after hitting around $35200 (the highest level in 2023). Analysts pointed out that Bitcoin's Relative Strength Index (RSI) is currently in a bullish range on the weekly chart, indicating that the momentum of the largest cryptocurrency is increasing. He emphasized:
Do you think these past few days have been very intense? Compared to what we may see in the coming weeks, this is only the beginning. When RSI enters the overbought area from the weekly chart and lasts for a period of time, it is usually accompanied by greater price fluctuations.
With the strong momentum of Bitcoin, CredibleCrypto believes that the largest cryptocurrency can now rise significantly in one day and says, "I think we will eventually see monthly candles exceeding $10000 in October (many of them)
Analysts say the price of Bitcoin is expected to reach $40000
According to CredibleCrypto, due to Bitcoin trading prices far above the psychological support level of $30000, there is no strong resistance to prevent it from rising to $40000:
No resistance is more important than the resistance we just broke through. The future trend is faster, more aggressive, and more intolerant than anything we have seen since the bottom of $15000.
Don't make things too complicated. Basically, the open price of Bitcoin is $40000. There may be a brief rest period, but I don't think it will take long for the price to reach this level.
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