The leading crypto Bitcoin (BTC) has been following a lifeless course with sideways movement for a while. He made an attack today and regained the psychological level of $20,000. However, it remains to be seen whether it will continue to do so. Meanwhile, a popular crypto analyst claims that Bitcoin has bottomed out. In line with this, he says that the start of a bull run for BTC is imminent.
“Bitcoin under $20,000 is a gift!”
cryptocoin.comAs you follow, the leading crypto has been struggling around 19 thousand dollars for a long time. However, Bitcoin threw itself above the $20,000 resistance with a successful move today. The analyst, nicknamed Kaleo, tells his 536,100 Twitter followers that this will continue. The analyst states that the opportunity to buy BTC below $20,000 will not last long. In this context, Kaleo makes the following statement:
Under $20,000 Bitcoin is a giveaway. We’ve said this before. Three plus months of Christmas is more than enough. Send hastily.
Using inverse price charts, the analyst compares Bitcoin’s 2018 bottom to last year’s. According to Kaleo, both cycles are very similar. So this shows that BTC has already hit the bottom. It also supports the idea that a bull run is imminent. In support of these views, the popular analyst additionally notes:
Let me just make a reminder. I still believe the bottom point has come. Here’s another look at the 2021 ATH (all-time high) cycle versus the 2017 ATH cycle. It’s a matter of time to rise.
Kaleo sees $35,000 in its sphere in the next 4 months
The analyst then approaches Bitcoin price from a shorter time frame. From this point of view, Kaleo notes that BTC is showing strength by using an old downside resistance level as support. “Nice little leap in retesting,” he explains.
The crypto whale also points to the correlation between Bitcoin’s price and halvings, where block rewards are halved. Because this theoretically creates a supply shock in BTC. According to traders, BTC’s current price action has historically been in line with previous market cycles. Looking at its chart, Kaleo predicts a rally to around $35,000 in the next four months. He explains his prediction as follows:
If you believe in the BTC halving cycle, you have to remember that a long period of no volatility in the bear market floor range is perfectly normal. Look from afar. Patience pays off.
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