Popular crypto trader and market analyst Credible Crypto says bitcoin is at a critical impasse, with the bulls struggling to drive the asset to new price highs.
In a tweet, Credible Crypto called the current market a “moment of truth” for bitcoin and the majority of altcoins.
The pseudonymous trader warned bitcoin could drag down the rest of the crypto market with another price pullback, while also explaining the bulls had been testing the $34-$35k price level.
Credible’s charts showed bitcoin retracing to a previous support of $26,000, representing a 20% decline from current price levels.
Despite issuing a warning on bitcoin’s price, the popular crypto trader was bullish on ethereum. In a tweet published the previous day, Credible said ETH would steal the spotlight with a run to $1,500 – $3,000, saying the market was shifting to “ETH-season.”
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