Bitcoin recovery hints at a massive multi-month rally imminent
As the cryptocurrency market turns a greener leaf after a period of “FUD” (Fear, Uncertainty and Doubt), Bitcoin (BTC) is leading the gains, and some experts are predicting more good things to come for the market’s flagship digital asset.
In fact, Bitcoin had rallied over 25% rejection from a major buy zone in a single bullish candle, in turn, breached a local resistance level and consolidated just below local highs, according to a Twitter mail published by the renowned cryptanalyst CredibleCrypto on March 14.
All roads lead to rallying
As the pseudonymous cryptocurrency expert explained, there were two possible scenarios for the maiden crypto that could possibly play out before, in his view, a massive multi-month rally could ensue.
In the first scenario, a fourth sub-wave of the recent upside could be interrupted by a deep plunge (even to $18,400) without invalidating the bullish market structure – before completing the fifth sub-wave and moving towards and above $30,000.
According to the second scenario, instead of a deep correction, CredibleCrypto projects a sideways consolidation without ruling out more retests, then a continuation to the upside because this is what has happened historically on a longer time frame.
“If we’re going to hit all-time highs, then at some point an aggressive move is going to happen, and that’s going to catch a lot of people off-guard, and that’s what’s going to cause it to be so violent and aggressive towards the top.”
He further specified that as the previous advances got steeper and steeper, more aggressive moves to the upside can be expected, “more aggressive than what we’ve already seen, which was pretty damn aggressive,” and he means a 60-degree angle to the upside could be expected.
Bitcoin price analysis
Meanwhile, at press time, Bitcoin traded hands at a price of $24,284, indicating a 9.1% gain on the day, in addition to increasing 8.24% over the previous week and 10.94% over the past month. according to the data retrieved on March 14. .
Elsewhere, Robert Kiyosaki, author of the best-selling personal finance book ‘Rich Dad Poor Dad’ has urged his followers to buy more of the biggest cryptos, as government bailouts of the recently collapsed banks, in his view, threatened to “invade the sick economy,” as Finbold previously reported.
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