Bitcoin is currently trading at $69,080, edging closer to its all-time high but still short of the next major resistance level. A prominent cryptocurrency analyst known as **Credible**, with over 433,000 followers on X (formerly Twitter), has recently shared a compelling outlook on Bitcoin’s price movement. According to the analysis, Bitcoin is poised for a final aggressive push toward **$74,000 before entering a significant correction phase. While the momentum appears bullish, investors are being warned of a potential bull trap** that could catch latecomers off guard.
This prediction comes amid a prolonged consolidation period that has delayed earlier expectations for a breakout into six-figure territory by the end of 2023. Now, the timeline has shifted, with the $100,000 milestone and the most explosive leg of the current bull cycle expected in 2025.
Market Structure and Technical Outlook
Credible’s analysis emphasizes the importance of multi-timeframe evaluation. On lower timeframes—such as the daily and weekly charts—Bitcoin is showing constructive price action. The formation of what the analyst calls a “pico bottom” suggests that the recent dip may have marked a temporary low, setting the stage for an upward impulse.
A key element in Credible’s technical framework is a yellow reference line visible on the monthly chart. This line represents the recent price floor and serves as a critical support zone. As long as Bitcoin holds above this level, the broader bullish structure remains intact.
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The current trading price of $69,080 sits in a strategic zone—above prior support levels but below the projected $74,000 target. This positioning indicates that Bitcoin is in the accumulation phase, where early movers are building positions ahead of the next rally.
Despite the optimistic setup, Credible cautions that the upcoming rally could act as a bull trap. A bull trap occurs when prices rise sharply, luring in retail investors near the top, only to reverse suddenly and trigger widespread sell-offs. This scenario often unfolds when institutional or whale investors distribute their holdings at peak sentiment.
The Path to $74,000: What to Watch
Several technical indicators support the case for a move toward $74,000:
- Volume Profile: Increasing volume on upward candles suggests growing buying pressure.
- Moving Averages: The 50-day and 200-day moving averages remain in a golden cross formation, signaling sustained bullish momentum.
- RSI Behavior: The Relative Strength Index is neither overbought nor oversold, leaving room for further upside.
Credible’s charts highlight that once Bitcoin breaks through $71,500 with strong conviction, the path to $74,000 becomes more probable. This level acts as intermediate resistance and a psychological barrier.
However, reaching this target does not signal the end of volatility. On the contrary, historical patterns suggest that new all-time highs are often followed by sharp corrections—sometimes exceeding 20%—as profit-taking intensifies.
Post-All-Time High: The Inevitable Correction
After touching $74,000 or higher, analysts anticipate a major correction phase. This pullback is not viewed as the end of the bull market but rather a necessary reset that clears weak hands and sets up conditions for a more powerful rally.
Market cycles in Bitcoin have consistently followed this pattern:
- Accumulation
- Markup
- Parabolic surge
- Distribution (correction)
- Renewed upward momentum
The current phase aligns with late markup approaching parabolic territory. Once distribution begins—marked by high volatility and mixed sentiment—the market will likely retrace toward key support zones before resuming its upward trajectory.
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This correction is expected to be substantial enough to shake out speculative traders but not severe enough to invalidate the long-term bullish thesis. Historical data shows that after each major top, Bitcoin typically corrects between 30% and 45% before launching its next leg higher.
Beyond $74,000: The Road to $100,000+
While $74,000 is the immediate target, Credible believes this is merely a stepping stone. After the correction phase concludes, Bitcoin could enter what analysts describe as the “largest, most aggressive wave to the upside” in the current cycle.
This final surge may propel Bitcoin beyond $100,000, potentially reaching new highs in 2025. Such a move would be fueled by several macro factors:
- Institutional adoption accelerating through ETFs and corporate treasuries
- Halving aftermath effects, historically linked to price surges 12–18 months post-event
- Global macroeconomic uncertainty, driving demand for hard assets
The delay in reaching these targets—from late 2023 to 2025—is attributed to extended consolidation. Markets often take longer to build momentum than anticipated, especially after periods of rapid growth.
Frequently Asked Questions (FAQ)
Q: Is Bitcoin likely to reach $74,000 soon?
A: Based on current technical indicators and market structure, a move toward $74,000 is plausible in the near term, assuming Bitcoin maintains support above key levels.
Q: What is a bull trap in crypto trading?
A: A bull trap occurs when prices rise sharply, creating false signals of continued upward momentum, only to reverse suddenly and trigger losses for late buyers.
Q: Why is a correction expected after hitting all-time highs?
A: Corrections are natural in bull markets. They allow for profit-taking, reduce overleveraged positions, and set up healthier conditions for future rallies.
Q: When could Bitcoin surpass $100,000?
A: Analysts now project this milestone could occur in 2025, following a correction phase after reaching initial highs around $74,000.
Q: How reliable is technical analysis for Bitcoin predictions?
A: While not foolproof, technical analysis provides valuable insights into market psychology and structural trends—especially when combined with on-chain data and macro context.
Q: Should I sell Bitcoin at $74,000?
A: That depends on your strategy. Some traders take partial profits at key resistance levels, while long-term holders may ride through volatility. Always define your risk tolerance beforehand.
Final Thoughts: Timing the Cycle
Bitcoin’s journey toward $74,000 represents a critical juncture in the current market cycle. While the upside potential remains strong, so do the risks associated with emotional trading and herd behavior.
Investors should remain vigilant, monitor key technical levels—especially the yellow support line highlighted by Credible—and prepare for increased volatility as new highs approach.
The broader outlook remains bullish, with expectations of a powerful rally beyond $100,000 in 2025. However, getting there will require patience through a necessary correction phase.
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By understanding market cycles and respecting technical structures, traders can position themselves not just to survive volatility—but to thrive within it.
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