Bitcoin and altcoin prices recovered in the second half of last week. The recovery drew attention as it came at a time of higher than expected inflation rates. However, many analysts have updated their price expectations for BTC, SHIB and altcoins. One of them was a famous BTC whale. According to Whale, the leading cryptocurrency will go to these levels in the next few months. Here are the details…
Bitcoin goes to these levels
A popular crypto strategist and whale predicted BTC’s possible trading range in the next few sessions. The famous investor expects a significant rise in Bitcoin (BTC) price. The investor, who has the nickname Kaleo, shared his expectations with his 527,900 Twitter followers. Accordingly, he says a strong BTC rally is imminent. Kaleo shared a chart with the words “Bitcoin/BTC coming soon…”. The chart shared by the whale predicts a significant rally in BTC price. The aforementioned rally shows that Bitcoin has the potential to rise to $28,000. However, it also adds a warning after this level. According to him, it is possible for BTC to pull back to the $20,000 level after reaching this level. However, a drop in the price to $20,000 does not mean the end of the rally. Whale states that after $20,000, the price will target $30,000.
Kaleo states that the aforementioned price levels are strong in the light of current market data. According to him, these levels are the most likely scenarios for Bitcoin. According to him, reaching the mentioned levels will not signal a return to a bull market. However, it will provide some much-needed relief in the coming months. BTC and altcoins have been in a downtrend and under intense pressure for a long time. However, Kaleo also warns investors not to be greedy. According to him, it is a better choice to accumulate assets rather than sell them during this bullish period. The reason for this is “end the bear market and be king in 2024/2025.” explains in words. At the time of writing, Bitcoin is down 2.34% on the daily chart. Accordingly, the leading cryptocurrency is trading at a price level of around $20,931.
BTC is approaching a key resistance level
As we reported in the past hours, BTC is very close to an important resistance point. This key resistance is nothing more than BTC’s 200-week moving average. Currently, this resistance exists between $22,000 and $22,600. This level, which has turned from support to resistance, is on the target of many analysts. Accordingly, they are focusing on the possibility of BTC closing a day above this level. If this happens, they say there is potential for the Bitcoin rise to continue towards the $25,000 level.
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