Crypto Trader Says Bitcoin (BTC) Is Refueled and Ready for “Moon Mission” – Here’s Why
An analyst who continues to build a following with timely Bitcoin (BTC) calls believes the crypto king is poised to witness another uptrend.
Pseudonymous analyst Credible Crypto tells his 352,700 followers on the social media platform
The crypto strategist notes that Open Interest (OI) is back to healthy levels as spot market bulls continue to accumulate BTC. Open Interest captures the total number of outstanding derivative contracts that have not yet been closed on an asset.
Says Credible Crypto,
“And the stage is officially set, folks.
OI completely reset.
Financing reset.
Spot buying continues.
BTC is refueled and ready to continue the lunar mission.”
Source: Credible Crypto/X
Credible Crypto adds that its bullish stance on crypto is supported by the bearish price action of altcoins. The analyst notes that the deeper decline in altcoin markets suggests that market participants have the necessary powder to shift capital into BTC.
“I took the reins with the alts. I feel like BTC is ready to do its thing.”
The trader also says that Bitcoin has already reached its downside price target and appears poised for a recovery.
“We just reached my downside target… Now let’s please recover BTC.”
Source: Credible Crypto/X
At the time of writing, Bitcoin is trading for $36,519, well above Credible Crypto’s downside target of $35,766.
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