An influential crypto strategist and trader is predicting a significant surge in the price of Bitcoin (BTC).

Known as Credible, this anonymous analyst is sharing his insights with his 433,330 followers on the social media platform X, suggesting that Bitcoin is poised for a rally towards its all-time high of approximately $74,000.

However, Credible cautions that this rally may be a deceptive move intended to trap overly optimistic BTC bulls.

“Shorter timeframes are showing strong signs of positivity – BTC appears to be establishing a base for its push towards the all-time high. The yellow line on my chart, which we recently touched to signal a small bottom, represents a crucial retest level. To understand its significance, zoom out to the monthly timeframe and it should become clear. Now, let’s aim for that move to the all-time high and ensnare some late bulls…”

Credible also shares his perspective on the long-term outlook for BTC, anticipating that Bitcoin will experience one final shakeout before embarking on a real rally towards $100,000.

“Considering the broader context of higher timeframes, I believe we may be heading towards a test of the highs before a more substantial correction occurs… The bull market is certainly not over, with the most significant and aggressive upward wave ($100,000+) still to come once this period of consolidation/correction concludes.”

Regarding the timeline for Bitcoin’s surge to new all-time highs, the analyst envisions that the Bitcoin bull market will kick off next year.

“It’s unlikely that we’ll see it happen before the end of this year at this point – this consolidation phase has lasted longer than expected.”

As of the time of writing, Bitcoin is trading at $69,080.

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