One crypto analyst is issuing a warning that Bitcoin (BTC<\/a>) is likely about to leave the station without giving traders any more good entries.<\/p>\n Pseudonymous analyst Credible Crypto tells his 346,000 followers on social media platform X that Bitcoin\u2019s recent price action may appear similar to 2019, making some traders expect a large correction after BTC\u2019s strength.<\/p>\n However, the analyst says<\/a> that Bitcoin\u2019s current market structure is different than its 2019 price action in that its rallies came much slower after building a proper base, rather than 2019\u2019s sudden parabolic advance.<\/p>\n \u201cThe move from $3,000-$14,000 (bottom) was a parabolic advance and these are often followed by major crashes\/corrections once the parabola breaks (a common % decline that is expected is 80+%), hence the very deep retracement.<\/em><\/p>\n Our current move is not parabolic at all which is just another reason I believe that those looking for a move to $20,000 or below will be left behind.<\/em><\/p>\n The parabolic part of this current move-up is yet to come. BTC.\u201d<\/em><\/p>\n Credible says if Bitcoin is indeed in the beginnings of a big move to the upside, then BTC should not drop below $26,370, where the low timeframe impulse began.<\/p>\n \u201cSo far so good with our local impulse holding up. Here\u2019s some more context:<\/em><\/p>\n We are currently trading above our mid-range, a level that has had some very clear and significant interactions with price over the last month\u2026<\/em><\/p>\n We know that if this low timeframe impulse is the start of a much larger impulse, then the price should not go below it\u2019s origin \u2013 marked off in the chart below.<\/em><\/p>\n So, while we hold above the mid-range, our next target is the range highs, with a first sign of weakness on a loss of the mid-range and clear invalidation right below that at the origin of this low timeframe impulse.\u201d<\/em><\/p>\n At time of writing, Bitcoin is trading for $28,029, very close to the analyst\u2019s range high target.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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