Bitcoin and Polygon (MATIC) are two digital assets that have seen a lot of volatility lately. However, according to a top crypto strategist, both could make big moves in the coming months. The analyst known as Kaleo believes that MATIC, an Ethereum-based token, could be poised for a reversal while Bitcoin could consolidate ahead of a parabolic surge.
Polygon (MATIC) ready for inversion
Kaleo is a pseudonymous cryptanalyst with a large following on Twitter. He thinks MATIC is preparing for a breakout to the upside, but not before it breaks below $1. Once it does, he forecasts it to reverse its trend and rally to around $1.70.
Kaleo’s outlook is based on the trader’s chart showing that MATIC is likely poised to scale its diagonal resistance. He believes diagonal breaks during this uptrend have resulted in large momentum moves for each leg up.
Bitcoin Consolidation for Parabolic Rise
In addition to its MATIC prediction, Kaleo is also updating its outlook on Bitcoin. He believes the king crypto could consolidate in preparation for a parabolic surge in the coming months. His chart shows Bitcoin could rally to $45,000 in May before setting a bull trap and correcting to around $37,000.
Despite the recent layoff news from Polygon Labs, the cryptocurrency market has been in a slow recovery mode since January 2023. However, the recent price pattern could lead to another bearish move for the altcoin. On the other hand, Bitcoin has shown a steady pattern of ideal times for decision-making in crypto trading strategies – buy, hodl, and sell.
looking ahead
While there are no guarantees in the crypto market, his track record of timely altcoin calls suggests traders might take his predictions seriously. With the crypto market still being gripped by bearish headwinds, this could be an opportunity to buy BTC ahead of the price increases. As for MATIC, traders will have to wait and see if Kaleo’s prediction of a trend reversal holds true.
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