In his latest video, CredibleCrypto dives deep into a potential breakout scenario for Bitcoin, emphasizing the need for cautious optimism.
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According to him, Bitcoin is approaching a critical resistance zone between $67,000 and $70,000. Historically, every rally near these levels has faced rejection, so CredibleCrypto urges traders not to get overly bullish just because Bitcoin is pushing upward.
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CredibleCrypto also highlights that traders are currently using high levels of leverage, which adds risk and can drive volatility in either direction. With so much leverage in play, any sharp price move could trigger forced liquidations, intensifying the movement.
While some social media voices call for all-in bullishness, he advises waiting for a clear confirmation, like Bitcoin breaking above the $70,000 resistance, before making bold moves. For those holding Bitcoin long-term, he remains bullish on the overall trend, seeing any dips as an opportunity to accumulate rather than panic.