A well-known crypto analyst, operating under the pseudonym Credible Crypto, believes Bitcoin is on the brink of a major breakout.
Credible points to a critical resistance level around $88,000, suggesting that a successful breach could set the stage for Bitcoin to climb toward the $100,000 mark.
According to the analyst, Bitcoin’s recent price movements indicate growing bullish momentum. The fact that BTC tested this key resistance level before pulling back is seen as a positive signal.
If Bitcoin holds support near $78,000 after a rejection, he predicts the next upward move could be explosive, breaking not just this resistance but also a higher supply zone that previously triggered a selloff.
Bitcoin recently touched $87,000 before dipping to around $84,000, a move that, in the analyst’s view, keeps it on track for a significant rally. He describes the latest rejection as a textbook response, reinforcing the idea that BTC remains positioned for a long-term uptrend.
Michael Saylor, executive chairman of Strategy, has revealed that the company has acquired an additional 21,021 Bitcoin for approximately $2.46 billion, paying an average price of $117,256 per BTC.
As Bitcoin continues to consolidate above $100K, a critical market signal is flashing: BTC funding rates remain elevated, even as price action cools.
Billionaire investor Ray Dalio, founder of Bridgewater Associates, has suggested that a balanced investment portfolio should include up to 15% allocation to gold or Bitcoin, though he remains personally more inclined toward the traditional asset.
With Bitcoin hovering near $119,000, traders are weighing their next move carefully. The question dominating the market now is simple: Buy the dip or wait for a cleaner setup?