Bitcoin Hits $46k, but Crypto Analyst Says BTC Going “Much Higher” – Here’s His Outlook

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.

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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.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.