Analyst Kaleo predicts a 40% rise for bitcoin (BTC)

Currently, the bitcoin price is hovering around $20,750. The flagship crypto has seen an increase of around 21% in recent days. It seems to be in full recovery after the spectacular fall of the FTX crypto exchange. For crypto analyst Kaleo, we can expect more from bitcoin in the coming weeks.

Soon 30,000 dollars for bitcoin (BTC)?

For many analysts, this new year is the year of the revival of the flagship crypto. It seems Kaleo feels the same way, given his recent prediction. Indeed, the crypto analyst indicated in a tweet that he expects BTC to cost $30,000. Concretely, for him, this amount constitutesa magnet“. This means that he believes that a Rise to $30,000 Imminent for BTC. From the current price of the flagship crypto, this amount constitutes an increase of more than 40%.

However, Kaleo believes that in the short term there will be a drop below the $20,000 mark. It is therefore only after this fall that the flagship crypto will be able to climb to $30,000. The crypto analyst said: “We are still waiting for a wick below $20,000 before we see them. A bit of hash or accumulation below the HTF trend before the divine candle makes sense. The divine candle will be here soon enough“.

Towards $30,000 for BTC?

Charts confirm Kaleo’s prediction

Analyst Peter Brandt recently shared some interesting charts via a tweet. These indicated that the flagship crypto is preparing to build a figure that could propel it. According to the charts, BTC could be worth $30,000 by Q2 2023.

At the same time, the analyst predicted that the price of bitcoin will be 5 times higher than this value within 2 years. Thus, Peter Brandt expects the flagship crypto to cost $150,000 per token by 2025.

According to Kaleo, the fall of BTC below $20,000 (before the rise) could constitute a bear trap. The latter is the concept of a technical pattern that appears when the price of an asset signals a false reversal. Investors can then expect an uptrend to transition into a downtrend. In this situation, the bears open short positions, which leads to a short squeeze. Finally, there is a rise in the price of the asset concerned.

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