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A widely followed analyst says Bitcoin (BTC) is showing signs of being on the verge of a massive breakout.
The analyst pseudonymously known as Credible Crypto tells his 462,900 followers on the social media platform X that Bitcoin may reclaim the $100,000 range if BTC can break through resistance around the $88,000 level.
“We’re at a key inflection point around this region, but since we went up to tag it BEFORE going down to range lows this is a good sign. It increases the odds that if we reject here but hold range lows [at around $78,000], the next move up will be expansion and a true breakout through not just this level but the original supply zone above in RED that we first rejected from. All eyes on this key zone for now.”
Source: Credible Crypto/X
The analyst says Bitcoin’s dip to the $84,000 range after tagging $87,000 on Thursday keeps the flagship crypto asset on target to reclaim the $100,000 level.
“A perfect rejection so far.”
Source: Credible Crypto/X
Bitcoin is trading for $84,427 at time of writing, down 1.5% in the last 24 hours.
Next up, the analyst suggests payments token XRP may dip below $2.00 before rallying to its all-time high of about $3.40.
“This is still the game plan for XRP by the way. If we don’t get it, we don’t get it, and we ride spot to double digits regardless. But I’m not interested in jumping into fresh longs mid-range. Hoping people choose to fade this push so we get what would be a fantastic opportunity.”
Source: Credible Crypto/X
XRP is trading for $2.45 at time of writing, down 1.7% in the last 24 hours.
