Analyst Predicts Bitcoin Breakout

A widely followed analyst suggests that Bitcoin (BTC) is on the verge of a significant breakout. Pseudonymously known as Credible Crypto, they inform their 462,900 followers on the social media platform X that Bitcoin could reclaim the $100,000 range if it breaks resistance near the $88,000 level.

> “We’re at a key inflection point around this region, but since we went up to tag it BEFORE going down to range lows this is a good sign. It increases the odds that if we reject here but hold range lows (around $78,000), the next move up will be expansion and a true breakout through not just this level but the original supply zone above in RED that we first rejected from. All eyes on this key zone for now.”
> — Source: Credible Crypto/X

The analyst states that Bitcoin’s dip to the $84,000 range after hitting $87,000 keeps the cryptocurrency on track to revisit the $100,000 level.

> “A perfect rejection so far.”
> — Source: Credible Crypto/X

At the time of writing, Bitcoin is trading at $84,427, down 1.5% in the last 24 hours.

In addition, the analyst predicts that the payments token XRP may dip below $2.00 before making a rally to its all-time high of around $3.40.

> “This is still the game plan for XRP, by the way. If we don’t get it, we don’t get it, and we ride spot to double digits regardless. But I’m not interested in jumping into fresh longs mid-range. Hoping people choose to fade this push so we get what would be a fantastic opportunity.”
> — Source: Credible Crypto/X

At present, XRP is trading at $2.45, down 1.7% in the last 24 hours.

Generated Image: Midjourney