Bitcoin (BTC) will explode by over 65% according to Popular Crypto Analyst – here is the timeline
A popular crypto analyst and trader is expressing bullish sentiment on Bitcoin (BTC) as the flagship currency attempts to breach its $25,000 resistance level.
The crypto analyst, who goes by the pseudonym Kaleo, tells his 563,900 Twitter followers that Bitcoin is eyeing the $40,000 price level.
“$40,000 is a magnet.”
Bitcoin is trading at $24,137 at the time of writing.
According to Kaleo, Bitcoin could surge above $40,000 “in the next few months.”
Based on predictions made on a chart by Kaleo released earlier this week, the crypto asset could hit $30,000 and $40,000 between April and July 2023.
After this rally, Bitcoin would return towards 2024 to the mid-$20,000s before starting a bull run that would culminate in a new all-time high in late 2024 or early 2025.
“And here is your roadmap for the next halving
new ATHs soon enough
It may seem far away, and it will feel like hell
but it will all happen in the blink of an eye.”
Source: CryptoKaleo/Twitter
Discussing Bitcoin’s immediate path forward, the pseudonymous crypto analyst and trader says:
“Bitcoin/BTC
Pulling back to around $26,000 to retest the upper resistance from here makes sense in the long run.
The timeline will be excited about the pennant break, but a retracement back to the high $24k followed by another chop at the top of the range before we see the leg up to $30k sounds right.”
Source: CryptoKaleo/Twitter
The popular crypto analyst and trader also says that bitcoin dominance is on an uptrend and he will only consider altcoins once the dominance level is above 50%.
“As Bitcoin continues to gain strength, so does BTC Dominance.
Looking for a return to more than 50% [Bitcoin dominance] before we get back to serious business with the majority of alternatives.”
Source: CryptoKaleo/Twitter
Bitcoin’s dominance level is around 42.5% at the time of writing.
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