A widely followed crypto analyst predicts a big move higher for Bitcoin (BTC) after weeks of shorts.
Pseudonymous crypto analyst Kaleo says his 588,400 Twitter followers who believe Bitcoin is about to take off in a strong rally that will last until July.
Kaleo says that Bitcoin is regaining a high time frame (HTF) support level after falling below it for several days, price action that he says is often a recipe for a violent rally.
“Calls of deviations below HTF support like this usually lead to violent moves higher. ATM (right now) $27,700 is the level I’m looking at.”
the trader predicts that Bitcoin spikes past the $40,000 level in July, up more than 46% from its current value of $27,300 at the time of writing.
“One last leg up.”
The popular trader too says Leading smart contract platform Ethereum (ETH) is likely to waste no time in retrieving the $2,000 level.
“Return it to $2,000 in a hurry.”
He says that after briefly dipping below $1,800 earlier this month, ETH is now trading at the highs of the range, and he says there is more room to run.
Ethereum is trading at $1,855 at the time of writing, up 2.1% over the past 24 hours.
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