Top Crypto Analyst Forecasts Huge Bitcoin Rally, Detailing ‘Most Likely’ Scenario for BTC in Coming Months

Top Crypto Analyst Forecasts Huge Bitcoin Rally, Detailing 'Most Likely' Scenario for BTC in Coming Months
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A popular crypto strategist predicts a rise in the price of Bitcoin (BTC) as he charts the possible trading range of BTC in the coming months.

Pseudonymous Kaleo Analyst He says his 527,900 Twitter followers that a strong Bitcoin rally is imminent.

“Bitcoin/BTC. Soon.”

Font: Caleo/Twitter

The Kaleo chart predicts a big Bitcoin bounce to around $28,000 in the near term before another leg below $20,000, which would then be followed by a grind to $30,000.

the crypto strategist He says that this range-bound environment is the “most likely” scenario for Bitcoin in the coming months.

“I still believe the most likely outcome is a range between $20,000 [and] $30,000 for at least the next couple of months, so while a bounce from here could take us to around $30,000, I don’t see that as something to get too excited about just yet.”

Kaleo also says that even if BTC bulls can start a relief rally, he warns traders that the rise will likely not be the start of a new bull market.

“Although the next leg we will see in this $20,000 mini-range that we are stuck in will not necessarily signal the shift in momentum for a new sustainable bull market, it will provide some much-needed relief from the months of bearish price action we have seen recently. .

I hope it’s fun, but don’t let it turn into greed and consume you completely. Be patient, keep stacking, survive the crab, and be a king in 2024/2025.”

At the time of writing, Bitcoin is trading hands for $20,931, down 2.34% on the day.

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