A popular crypto strategist predicts an increase in the price of Bitcoin (BTC) when he charts BTC’s possible trading area over the next few months.
Pseudonym analyst Kaleo says his 527,900 Twitter followers that a strong Bitcoin rally is imminent.
“Bitcoin / BTC. Soon.”
Kaleo’s chart predicts a huge Bitcoin bounce to around $ 28,000 in the short term before a new leg down below $ 20,000, which will then be followed by a gate up to $ 30,000.
The crypto strategist sier that this distance environment is the “most likely” scenario for Bitcoin in the coming months.
“I still think the most likely outcome is in the range of $ 20,000 [and] $ 30,000 over at least the next few months, so while a bounce from here could take us to around $ 30,000, I don’t see it as something to get excited about yet. ”
Kaleo also says that although BTC bulls are capable of igniting a relief rally, he warns traders that the increase is unlikely to be the start of a new beef market.
“While the next leg up we will see from this $ 20,000 miniseries we are stuck in will not necessarily signal the transition to momentum for a sustainable new beef market, it will provide some much needed relief from the months of bearish price action we have seen recently. .
Hope it’s fun, but do not let it develop into greed and devour you completely. Be patient, keep stacking, survive the crab and be a king in 2024/2025. ”
At the time of writing, Bitcoin is changing hands for $ 20,931, down 2.34% on the day.
Don’t miss a beat – Subscribe to have crypto email alerts delivered directly to your inbox
Check price action
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed by The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock / Lord Beard