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 Gushterov
Reporter at Coindoo
Kosta kam 2021 zum Team und hat sich mit seinem Wissensdurst, seiner unglaublichen Hingabe und seiner analytischen Denkweise schnell einen Namen gemacht. Er deckt nicht nur ein breites Spektrum an aktuellen Themen ab, sondern schreibt auch bemerkenswerte Rezensionen, PR-Artikel und Bildungsinhalte. Seine Arbeit wird auch von anderen Nachrichtenagenturen zitiert.
