A cryptocurrency strategist who follows closely believes Bitcoin (BTC) is positioned to surge to all-time highs after falling to around $60,000 last week.
Cryptocurrency analyst Kaleo told his 634,700 followers on social media platform At the time, the market expected approval of a spot BTC exchange-traded fund (ETF).
According to the trader, he believes Bitcoin will set a new record around the halving, when BTC miners’ rewards will be cut in half. However, he predicts that BTC will see a major correction before triggering a steep uptrend following the rally.
“Of the price structure comparisons I am looking at right now ahead of the halving, my favorite is the pre-ETF period in December. “It’s easy to see a high again from here, followed by a halving later this week, followed by a selloff and a return to new highs.”
Analyst Shares Hourly Chart of BTC Before ETF Approved.
He later shares another chart that suggests BTC may follow the same pattern.
As of this writing, BTC is worth $65,795.
Traders are also closely watching BNB, the utility token of the BNB Chain ecosystem.
According to Kaleo, BNB appears poised to clear diagonal resistance and rebound to new all-time highs near $1,000.
“BNB still appears poised to break out of this range.”
As of this writing, BNB is trading at $566.4.
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us TwitterFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute 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 entirely at your own risk and you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Image created: DALLE3