Bitcoin has reached $46,000 for the first time since January 12. This comes after Bitcoin held support above $44,600, which CrediBULL Crypto had previously noted was an important level.
Outlook for Further Upside
Previously, CrediBULL Crypto had noted that if Bitcoin could hold support above $44,600, that would confirm his bullish outlook and point to accelerated upside ahead. When Bitcoin recently held the $44,600 level and printed what CrediBULL Crypto called a “beautiful impulse” higher, that confirmed to him that his most bullish scenario is now playing out.
Doge2014 raises 300K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Now that the $44,600 support level has held, CrediBULL Crypto believes the local invalidation point is $45,200. As long as Bitcoin holds above $45,200 on any pullbacks, he expects to see more upside impulses ahead, with Bitcoin going “much, much higher.” His outlook calls for some consolidation and choppy/sideways price action in between these impulsive upside moves. But overall he sees this bullish momentum continuing based on Bitcoin confirming the key support level.
You may also be interested in:
- Why Ripple’s XRP Doesn’t Look Good According to Chart Analysis
- Top Analyst Predicts “Massive Pump” for Shiba Inu’s SHIB: Bulls Target $0.01
- Crypto Millionaires invest in Life changing A.I platform, Will Polygon (MATIC) recover?
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
