Bitcoin Eyes New All-Time Highs Amid Key Consolidation Zone
A popular crypto strategist, known as Credible Crypto, believes Bitcoin is laying the groundwork for a significant move toward new all-time highs.
In his latest YouTube strategy session, the analyst outlined potential short-term fluctuations while maintaining a strong bullish outlook.
$100K Consolidation Could Spark Breakout
Credible suggests that Bitcoin could consolidate between $100,000 and $105,000 before its next major upward impulse. This zone, he says, is a crucial area where BTC could trade sideways, allowing altcoins to find their local bottoms.
In a more bearish—but still bullish—scenario, Bitcoin might dip into the $92,000–$95,000 range before bouncing. He emphasized that even a move down to $85,000 would not invalidate the broader bullish market structure, as long as BTC remains above the $74,000 origin of its recent rally.
Elliott Wave Theory Suggests Correction Still Ongoing
According to Credible’s interpretation of Elliott Wave Theory, Bitcoin is currently in a corrective phase following a strong impulse move from $74,000 to $112,000. He notes that this correction can extend as low as $85,000 without breaking the broader bullish trend.
The analyst explains that the five-wave structure remains intact, with wave three potentially in progress. His long-term chart projects that this wave could ultimately drive Bitcoin toward $238,000—its next all-time high target.
Critical Level at $74K Defines the Bull Case
Despite short-term volatility, Credible maintains that the key threshold for invalidation is $74,000. As long as Bitcoin stays above this level, the macro bullish scenario remains valid.
However, a drop below $74,000 would suggest a breakdown of the current wave structure and potentially alter the outlook for the rest of the cycle.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
