Crypto Strategist Predicts New Bitcoin (BTC) High, Leap To $40,000
- According to Crypto Strategist, Bitcoin is likely to set up for a parabolic leap to $40,000 by May of this year.
- Bitcoin continues to flirt with the $25k mark, allowing altcoins to continue pumping left and right.
A well-known cryptocurrency analyst has revealed his strategy for a Bitcoin (BTC) climb to a new all-time high.
According to Kaleo, a pseudonymous expert, Bitcoin is likely to set up for a parabolic leap to $40,000 by May of this year.
Focusing on the lower timeframe, Kaleo believes Bitcoin will break through its diagonal barrier and rally to $30,000 in the coming days, followed by a brief pullback to retest the diagonal resistance and turn it into support, resulting in a surge to $40,000.
Low timeframe roadmap with commentary.
In terms of his prognosis for the following months, Kaleo believes Bitcoin will eventually see a deep retracement period after reaching his target of $40,000, falling as low as $20,000 by the end of the year. Once the corrective period is through, the expert anticipates that the king cryptocurrency will officially begin a new bull market by early 2024, just in time for the next Bitcoin halving, which will reduce BTC miners’ rewards by 50%.
According to Kaleo, the bull market will boost BTC to a new all-time high by late 2024 or early 2025.
And here’s your roadmap through the next halving new all-time highs soon enough. It might seem far off, and it’ll feel like hell but it’ll all happen in the blink of an eye.
So far nothing unexpected – BTC chopping within the upper bounds of the range. Rarely see anything too crazy happen on a holiday, so shouldn’t see too much of a deviation anytime soon.
Santiment also reported that the crypto markets continue to deliver spectacular results, with a big number of projects adding 20% or more to their market caps in the last week. Bitcoin continues to flirt with the $25k mark, allowing altcoins to continue pumping left and right.
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