A prominent cryptocurrency analyst says Bitcoin (BTC) is forming a bullish pattern and a massive breakout is expected.
Cryptocurrency trader Ali Martinez told his 69,300 followers on social media platform X in a new strategy session that Bitcoin could surge by more than 7% from its current value in the short term.
“In the shorter term, Bitcoin could form a bullish flag, which would suggest a potential surge towards $64,000!”
At the time of writing, Bitcoin is trading at $59,655, up slightly over the last 24 hours.
The trader then warned that Solana (SOL), a competitor to Ethereum (ETH), could be in a bearish pattern and could plunge by more than 16% if it fails to hold support at $141.
“Solana could be forming a head and shoulders pattern on the hourly chart, which suggests a break below $141 could trigger a correction that takes SOL to $122!”
As of this writing, Solana is trading at $146, up slightly over the last 24 hours.
Finally, the analyst is bullish on Polygon (MATIC), a layer 2 scaling solution, but warns that there could be a short-term correction.
“MATIC will melt its face when the altcoin season starts! But don’t go crazy yet. A weekly close below $0.30 will invalidate the bullish theory.”
At the time of writing, MATIC is trading at $0.41, down slightly over the last 24 hours.
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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.
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