Crypto Analyst Predicts Monster Moves For Bitcoin, Says BTC Could Hit New All-Time Highs By October

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A closely-watched crypto strategist believes the stage is set for Bitcoin (BTC) to make a parabolic advance.

Pseudonymous analyst Credible Crypto tells his 341,900 Twitter followers that Bitcoin’s bull market is likely underway after BTC successfully retested $25,000 as support.

According to the trader, Bitcoin looks set to print some monster moves in a high time frame as he expects bullish momentum to increase exponentially in the coming months.

Credible Crypto uses the 2020 BTC bull market as an example, a period where Bitcoin generated monster rallies for six consecutive months.

“For example, on our last impulse ($10,000 – $60,000), the monthly candles after our major monthly test at $10,000 (equivalent to the one we just got here at $25,000) were larger than all the previous ones and continued to grow until our peak.

The first was a move of $3,600, the next one was a move close to $7,000, the one after that a huge move of $12,000, after that a move of $15,000 and the 2nd at the last monthly candle before our peak an incredible $25,000 move.

Thus, we can assume that the monthly candles as we go will only increase in size.

Believing that Bitcoin is already in bullish territory, Credible Crypto predicts that BTC will record a new all-time high (ATH) as early as October.

“That means I would expect that once the expansion starts (which appears to be the case), we should see monthly moves of >$10,000 at a time, easily. From the current levels to the previous ATH, there is a gap of $40,000. This gap should then, logically, be covered in a few monthly candles if it is a parabolic progression. We are about to enter the first month of July, the second month of August and the third month of September. That would imply a new ATH by October as a pretty logical estimate.

Source: Credible Crypto/Twitter

Looking at the trader’s chart, he seems to be predicting that Bitcoin may surge to $120,000 before the end of the year.

At the time of writing, Bitcoin is trading for $30,543.

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