Recent developments in the bitcoin (BTC) market have raised many questions among analysts about the future development of the flagship crypto. Faced with largely pessimistic forecasts of a steep decline in bitcoin (BTC), some observers stand out by displaying a more optimistic outlook. This is the case of the famous crypto analyst Kaleo, whose recent analysis we invite you to discover
The Flagship Crypto Could Rise to Over $40,000
In contrast to Michael J. Kramer, whose rather gloomy predictions we shared yesterday, Kaleo anticipates a more positive scenario for the cryptocurrency. The crypto specialist announced on Twitter his anticipation of a solid rally in Bitcoin (BTC). He specifically spoke of violent upward moves that should be seen very soon. He added that the bullish period will last until July.
Kaleo noted that the flagship crypto dipped below a high timescale (HTF) support level for several days. He added that currently it is recovering this level of support. According to the analyst, this is a behavior that generally announces a violent surge in prices.
In this context, Kaleo said that the price of BTC will cross the $40,000 mark by July. This amount would represent an increase of more than 44% compared to the current value of bitcoin. It should be noted that currently the BTC token is trading around $26,700.
Kaleo predicts a rise for the big rival of bitcoin (BTC)
Earlier this month, Ether (ETH) dipped below $1,800. But, now, according to trader Kaleo, bitcoin’s big rival (BTC) is trading at range highs. The analyst pointed out that Ether will waste no time in reaching the $2,000 level again.
“Take it down to $2,000 in a hurry“, Kaleo posted on Twitter. It should be noted that ether is currently trading around $1820. The second-largest crypto by market capitalization has seen a drop of more than 2% in the past 24 hours.
While Kaleo predicts a sharp rise for bitcoin, today’s technical analysis predicts a descent to $25,000 for the flagship crypto. Analysts point out that the mother of cryptos is showing considerable volatility. However, it does not yet show signs of a significant movement in the medium term.
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