Bitcoin Set To Explode and Hit 6 Figures
#crypto #bitcoin #NFT #rally
"The bitcoin price is rebounding from a 56% price drawdown, post a 228% recovery. Historically what comes next is yet another massive recovery. So, no matter how hard it feels right now, make it your goal and give it your best shot and buy”"--Paul Ebeling
Pseudonymous trader Kaleo tells his 526,200 Twitter followers Bitcoin will trade in a sideways range, also known as being in a crab market, before exploding to a new all-time high possibly after the early-2024 halving.
According to Kaleo, the flagship crypto asset is likely to range between $16,000 and $30,000 for the next 5 months before breaking North.
“Most likely path from here is seeing a base range between $16,000 – $30,000 established, that eventually resolves around December when price finally breaks above high time-frame diagonal resistance.
Expecting a few months of rapid, overhyped growth in early 2023 which does not result in a new all-time high. Capping out somewhere in the $50,000 makes more sense, but this growth should have an associated mini altcoin season.
Next 18 months or so through the next halving in March of 2024 defined by a crab market staying above high time-frame logarithmic support.
While Bitcoin remains in a crab market, new altcoin narratives start to spring up and the NFT [non-fungible token] market starts to pick up steam.”
Kaleo says Bitcoin will hit a new all-time high of at least $110,000 months after the next halving.
“Late 2024 / early 2025 we finally see a new Bitcoin all-time high and six-figure BTC.
I want to clarify – I think BTC *does* go higher than what this chart shows ($110,000), but even if that’s all we see… that’s still a 5x+ from current prices in less than two and a half years. That’s not bad at all. Might even be just enough to outpace inflation.”
At the time of this writing Bitcoin is trading at $21,654.90
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Have a prosperous weekend, Keep the Faith!
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