Popular analyst Kaleo bitcoin believes that $40,000 is possible, despite struggling to push its price above $30,000. The analyst also underlined that there will be mass selling pressure just before the $40,000 levels.
According to the analyst, it is likely to retest support around $25,000 before Bitcoin regains its bullish momentum. will.
viewing at lower timeframes kaleoHe states that Bitcoin has already passed the cross support that allowed it to surge from around $19,000 in March to above $30,000 last month.
At the time of writing, Bitcoin is trading at $28,600 and is up 2% in the last 24 hours.
Finally Ethereum Commenting on (ETH), Kaleo thinks that the leading smart contract platform may also see a significant pullback along with BTC. The analyst predicts that ETH could make a local bottom near $1,540 before surging towards the $2,300 target by July.
You can follow the current price action here.