A widely followed crypto analyst is predicting a big move to the upside for Bitcoin (BTC) after weeks of chopping around.
Pseudonymous crypto analyst Kaleo tells his 588,400 Twitter followers that he believes Bitcoin is about to take off on a strong rally lasting until July.
Kaleo says that Bitcoin is reclaiming a high timeframe (HTF) support level after dipping below it for several days, a price behavior that he says is often a recipe for a violent spike up.
“Reclaims of deviations beneath HTF support like this typically lead to violent moves to the upside. ATM (at the moment) $27,700 is the level I’m watching.”
The trader predicts that Bitcoin soars past the $40,000 level by July, a more than 46% increase from its current value of $27,300 at time of writing.
“One last leg up.”
The popular trader also says leading smart contract platform Ethereum (ETH) is likely to waste no time in reclaiming the $2,000 level.
“Run it back to $2,000 with haste.”
He says that after briefly dipping below $1,800 earlier this month, ETH is now trading at the range highs, and he says there is more room to run.
Ethereum is trading for $1,855 at time of writing, up 2.1% during the past 24 hours.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE-2
Credit: Source link
