Bitcoin
Cryptocurrency Analyst Says Bitcoin Is On The Verge Of A Massive Rally, Predicts Major Breakout For BTC
A widely followed cryptocurrency strategist and trader believes that Bitcoin (BTC) is gearing up to trigger a major breakout rally.
Pseudonymous analyst The Crypto Dog told his 805,600 followers on social media platform X that Bitcoin appears to be mirroring a pattern seen in November 2020, when BTC triggered a parabolic rally from $14,000 to $69,000 in just a few months.
“The last time BTC broke a level like this, we were up 375%.”
Source: The Crypto/X Dog
Looking at the trader’s chart, he appears to predict that Bitcoin’s breakout will begin after BTC breaks above its immediate resistance around $68,300.
At the time of writing, Bitcoin was trading at $67,615.
According to The Crypto Dog, he is seeing signs that Bitcoin may be in the early stages of a major bullish explosion.
“Leaning into a continued uptrend without a significant drop usually happens at the start of a major rally.”
The analyst also grades that he believes the current rally will take BTC into uncharted territory.
“This is an ATH (all-time high) run. Get a blood test. Take intramuscular testosterone if <1000 ng/dl. Leave nothing to chance.”
The analyst is also closely watching Solana’s price action (SUN)-based on memecoin Bonk (BONK). The trader believes that BONK will continue to outperform the broader cryptocurrency market due to its strong price action this year.
“Coins that pump heavily at the beginning tend to maintain that leadership.”
Source: The Crypto/X Dog
At the time of writing, BONK was trading at $0.0000298, down nearly 6% on the day.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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