A closely followed crypto strategist believes Bitcoin (BTC) is poised to hit new all-time highs after last week’s plunge to around $60,000.
Pseudonymous analyst Kaleo tells his 634,700 followers on social media platform BTC.
According to the trader, he sees Bitcoin hitting new highs around the halving when BTC miner rewards are cut in half. However, he predicts that BTC will see a deep correction after the rally before triggering a strong upward move.
“My favorite price structure comparison that I’m paying attention to right now as the halving approaches is the pre-ETF December period. We could easily see ourselves hitting highs again from here, leading to a halving later this week, followed by a sell-off, then a return to new highs.
Analyst shares hourly chart of BTC ahead of ETF approval.
He then shares another chart suggesting that BTC could follow the same pattern.
At the time of writing, BTC is worth $65,795.
The trader is also closely monitoring BNB, the utility token of the BNB chain ecosystem.
According to Kaleo, BNB appears ready to clear its diagonal resistance and reach a new all-time high near the $1,000 mark.
“BNB still looks set to break out of this range.”
At the time of writing, BNB is trading at $566.4.
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