HomeBitcoinBitcoin (BTC) Isn't Done Breaking Out, Says Top Crypto Trader – This...

Bitcoin (BTC) Isn’t Done Breaking Out, Says Top Crypto Trader – This Is His Goal


A widely followed crypto analyst says that Bitcoin (BTC) has much more room to rise after forming a bull market structure.

Pseudonymous analyst Kaleo says his 563,800 Twitter followers that Bitcoin is likely about to rally and test its diagonal resistance at $27,000.

At that point, he forecasts a temporary retest before Bitcoin goes even higher.

“Looking for this move to continue with shipping to the upper diagonal resistance of this range near $27,000 before seeing much of a pullback.”

Source: Kaleo/Twitter

Looking at his chart, Kaleo forecasts that Bitcoin will reach around $40,000 in April, an increase of more than 54% from its current value.

Bitcoin is trading at $25,899 at the time of writing after dipping to the $19,000 price level last week.

caleo says Bitcoin price action is similar to the mid-February rally when the king crypto entered new range highs.

“The current PA (price action) is incredibly reminiscent of the mid-February rally that set new range highs.”

Source: Kaleo/Twitter

Kaleo had warned investors on price volatility related to the March 14 morning release of the latest Consumer Price Index (CPI) data, which is often interpreted as an indicator of whether the Federal Reserve will remain aggressive in reducing inflation .

“Either way, I would continue to tread carefully before tomorrow’s CPI print. Wait for the price to resolve higher, but expect the typical extreme volatility to happen along with it.”

With the release of CPI data, which showed signs of cooling inflation, Kaleo reaffirms your price prediction.



Source: Kaleo/Twitter

kale too warns investors that altcoins are unlikely to overtake Bitcoin in 2023 and that they not fall victim to the sunk cost fallacy, which is a tendency for people to irrationally stick with old investment decisions even after they have been proven wrong .

“Beware of the sunk cost fallacy by holding on to your alternative bags. If you have no exposure to Bitcoin, the belief that “it’s only a matter of time before my bags catch up because BTC is so boring” will likely leave you underperforming for most of 2023.”

However, Kaleo says Altcoins are set for a new chapter next year.

“2024/2025 is a different story.”

Don’t miss a thing: sign up to receive crypto email alerts straight to your inbox

Check Price Action

follow us TwitterFacebook and Telegram

Surf The Daily Hodl Mix

Check the latest news headlines


Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.

Featured image: Shutterstock/DomCritelli/SergZSV.ZP


Please enter your comment!
Please enter your name here


Owner of Major US Stock Exchange to Launch Crypto Custody Services by June: Report

The parent company of a major US stock exchange is reportedly looking to launch crypto custody services by June. According to a new report from BNB...

DeFi Giants Launch on Ethereum Layer 2 zkSync Era

After four years of development, Ethereum's Layer 2 scaling network, zkSync Era, has been opened to users in alpha, enabling faster and cheaper transactions. ...

Crypto Whales Pounce on Ethereum Scaling Altcoin, Accumulating 13,310,000 Arbitrum (ARB) After Polygon Rival Airdrop

Investors with deep pockets gobbled up millions of Arbitrum (ARB) just one day after competitor Polygon (MATIC) distributed tokens to eligible users. Blockchain monitoring service Lookonchain...

Crypto Trader Maps Way Forward For Aptos And Chainlink, Predicts Altcoins Will Fly Once Bitcoin Cools Off

A popular crypto strategist is updating his outlook on Aptos (APT) and Chainlink (LINK) as he forecasts near-term price action for the broader altcoin market. Pseudonymous...

Most Popular