Is Bitcoin Leaving Traders Behind on Its Upward Journey?
A crypto analyst has raised a cautionary flag concerning Bitcoin (BTC), suggesting that BTC may soon embark on an upward trajectory without providing additional favorable entry points for traders.
The pseudonymous analyst Credible Crypto highlighted that Bitcoin’s recent price movements might bear some resemblance to those of 2019. This similarity has led some traders to anticipate a significant correction following BTC’s recent strength.
Nevertheless, Credible Crypto points out a key distinction between Bitcoin’s current market dynamics and its price action in 2019. Unlike 2019, where rapid parabolic advances were followed by substantial crashes or corrections (often exceeding 80% in decline), the current rally in Bitcoin is not exhibiting parabolic behavior. This divergence leads him to believe that those anticipating a drop to $20,000 or lower may find themselves left behind.
According to Credible Crypto, if Bitcoin is indeed in the early stages of a substantial upward movement, it should not dip below the $26,370 level, which marks the beginning of the recent low timeframe impulse.
READ MORE: UAE Introduces Groundbreaking Dirham-Backed Stablecoin
He states, “Our local impulse appears to be holding up well at this point. To provide further context, we are presently trading above our mid-range, a level that has demonstrated significant influence on price movements over the past month. It’s important to note that if this low timeframe impulse marks the commencement of a larger-scale move, the price should not breach its origin, as indicated in the chart below.”
Credible says that as long as we maintain levels above the mid-range, the next target is the range highs. Any signs of weakness would be evident through a loss of the mid-range, with clear invalidation occurring just below the origin of this low timeframe impulse.
At the time of writing, Bitcoin’s price hovers around $27,600 with a 2% decline in the past 24 hours.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
