Bitcoin

when

<div class="dailyhodl">
 <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>
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 <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">
  <figcaption class="wp-caption-text">
   Source: Kaleo/X
  </figcaption>
 </figure>
 <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>
</div>
<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

Autres articles publiés le 15 avr. 2024

Middle East Tensions Spiked PAXG Price; It Hit $2.9K in a Week

The real risks to Ethena’s stablecoin model (are not the ones you think)

Wormhole, Jupiter enthusiasts drawn to Kelexo P2P lending platform

Hong Kong SFC Greenlights First Bitcoin and Ethereum Spot ETF, Which Companies Secured Approval?

Bitcoin’s 7% drop to $64k: A setback or setup for $70k?

Institutional Investor React to $110 Million Bitcoin Outflow

Join our free newsletter for daily crypto updates!