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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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.
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