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Crypto strategist Credible Crypto, known for his insights followed by 347,100 people on social media platform X, has predicted a significant surge in Bitcoin (BTC), thanks to a bullish "moon bucket" or "cup and handle" pattern observed on the hourly chart. The expert suggests that this pattern could soon propel BTC above the $33,000 mark.

Currently trading above $30,000, BTC is expected to rise swiftly towards $40,000 after being tested for the third time at the $30,000 mark. This prediction is based on historical patterns and market trends, including the largest liquidation event and the FTX crash which bottomed out at $15,000.

In addition to this short-term outlook, Credible Crypto also envisions BTC soaring to an impressive $100,000+ in the long run. He also predicts that Ethereum (ETH) will reach new highs.

A crucial factor contributing to these predictions was a weekly close that reversed a two-month downturn. This significant event led to the largest liquidation since the FTX crash. The crypto expert also anticipates a potential clean retest of the "green zone" before BTC resumes its upward trend.

In terms of market dominance, Bitcoin has witnessed a significant increase. According to data from The Block’s data dashboard, Bitcoin's market dominance has soared to over 49%, reaching 48.85% on Sunday. This is the highest level since April 2021 and a considerable increase from about 38% at the start of this year.

Credible Crypto's closing remark on his post was "Send it. BTC.", which reflects his optimistic outlook for the cryptocurrency.

https://www.investing.com/news/cryptocurrency-news/bitcoin-anticipated-to-surge-past-33000-due-to-bullish-pattern-93CH-3206113