Crypto analysts who gained the traction of timely Bitcoin calls outline a scenario in which BTC will be free from side-to-side trading and surges from new all-time highs.
The trustworthy of the pseudonymous analyst tells 468,700 followers of social media platform X that it appears that BTC is following the Elliot Wave (EW) pattern that will be consolidated in the coming weeks before Bitcoin sets a breakout rally towards the end of July.
Elliott Wave theory is an advanced form of technical analysis that seeks to predict future price movements by tracking crowd psychology, often unfolding in repeated wave patterns.
Saying it's reliable,
“BTC has endured very well over the past few days.
As mentioned in my last update, we think we'll test the blue zone sooner or later whether it's before or after getting a high in our local range.
From an EW perspective, this is ideal. Of course, there are several different structures we may see to complete this correction, but structures that lead to more severe compression before inflation are always preferred, as a significant reduction in volatility/compression leads to stronger breakouts than usual.
The focus should remain at a critical level (blue zone and high range) in terms of the area of interest. ”
Source: Trustworthy/x
Based on the trader's charts, he appears to suggest that Bitcoin will be temporarily gathering above $110,000 before returning to the $100,000 level and preparing to coincide with the breakout surge.
Regarding the Altcoin market, the trustworthy believes Alts will witness a major advantage despite concerns about liquidity sources. According to analysts, Crypto investors had the same liquidity concerns about Bitcoin when it was below $30,000, but now BTC is worth $107,417.
For ALT, stop worrying about where liquidity will come from.
At this stage, the code is like sea tears. There is a lot of fluidity there. ”
Generated Image: Midjourney
