Analysts known for making timely Bitcoin calls outline what he believes is the most bullish scenario for BTC as Crypto King struggles to maintain a rally of over $110,000.
In a new strategy session, the pseudonymous analyst trust tells 70,100 YouTube subscribers that they believe that if BTC is in the midst of an offensive uptrend, Bitcoin will not retest its main psychological level as support.
“If we’re in the most bullish scenario, we wouldn’t take these lows (at $100,000). Find a buyer on top of these lows, front-long them and keep them higher.”
However, traders note that even in the most bullish cases, they expect BTC to witness another kind of correction, defined by time rather than price.
“These correctional structures can drag us out as we all know before, taking many different shapes and shapes, but what we have here is a combination of corrective choppy price action before the next impulse begins.
So, even if you create a slight high, if you are not rising with momentum, you can pull it down and choke a little more.
Ideally want to tap on the green zone. And in the most bullish case, it’s as low as us. Whether we take the high or not, that doesn’t matter. And we get more chops and then we impulsively erupt again. ”
Source: Trustworthy/YouTube
Looking at the trader’s charts, he appears to be predicting that BTC will surge to $140,000 in his most bullish scenario.
At the time of writing, Bitcoin is trading at $105,226.
Generated Image: Midjourney
