Bitcoin

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 <p>A closely followed crypto strategist thinks that Bitcoin (BTC) is positioned to surge to new all-time highs following last week’s drop to around $60,000.</p>
 <p>Pseudonymous analyst Kaleo tells his 634,700 followers on the social media platform X that Bitcoin appears to be mirroring its December 2023 to January 2024 price action – when the market anticipated the approval of spot BTC exchange-traded funds (ETFs).</p>
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 <p>According to the trader, he sees Bitcoin rallying to new record highs around the halving when BTC miners’ rewards are slashed in half. However, he predicts that BTC will see a deep correction after the rally before igniting a steep upside move.</p>
 <p><em>“My favorite price structure comparison I’m paying attention to right now heading into the halving is the December pre-ETF timeframe. Could easily see us running the highs again from here leading into the halving later this week, followed by a sell-off, and then a grind back to new highs.”&nbsp;</em></p>
 <p>The analyst shares an hourly chart of BTC before the ETFs were approved.</p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GLFGAlaWgAAWU_E?format=jpg&amp;name=large" alt="Image" width="1842" height="816">
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   Source: Kaleo/X
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 <p>He subsequently shares another chart that suggests BTC may be following the same pattern.</p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GLFGGTsXEAAtov0?format=jpg&amp;name=large" alt="Image" width="1774" height="812">
  <figcaption class="wp-caption-text">
   Source: Kaleo/X
  </figcaption>
 </figure>
 <p>At time of writing, BTC is worth $65,795.</p>
 <p>The trader is also keeping a close watch on BNB, the utility token of the BNB Chain ecosystem.</p>
 <p>According to Kaleo, BNB looks poised to take out its diagonal resistance and rally to a new all-time high near the $1,000 mark.</p>
 <p><em>“BNB still looks primed to break out of this range.”&nbsp;</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GLFG9frWsAEc9_C?format=jpg&amp;name=large" alt="Image" width="1842" height="823">
  <figcaption class="wp-caption-text">
   Source: Kaleo/X
  </figcaption>
 </figure>
 <p>At time of writing, BNB is trading for $566.4.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/analyst-sees-bitcoin-rallying-to-new-all-time-highs-around-the-halving-says-btc-mirroring-pre-etf-movement-tbt85365.html">https://thebittimes.com/analyst-sees-bitcoin-rallying-to-new-all-time-highs-around-the-halving-says-btc-mirroring-pre-etf-movement-tbt85365.html</a></p>

Analyst Sees Bitcoin Rallying to New All-Time Highs Around the Halving, Says BTC Mirroring Pre-ETF Movement

TheBitTimes

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