Crypto strategist predicts big returns for Bitcoin and one Ethereum rival – here are his goals
The crypto analyst who called the end of the crypto bull market is now predicting big bounces for Bitcoin (BTC) and Ethereum (ETH) challenging Solana (SOL).
Popular crypto strategist Pentoshi tells his 612,000 Twitter followers that after nearly a year, he is no longer extremely bearish on Bitcoin.
“Hard to switch bias after being a doomer for 10 months, but I think this could play out in the next two months. I’m also a high time frame person. So focused more on bigger time frames. I have reasons this.”
According to Pentoshi, Bitcoin’s diagonal resistance is what has kept BTC in a downtrend since last November. approaching end of life and he now expects a breakout rally towards $26,721.
At the time of writing, Bitcoin is trading hands at $19,054. A move to Pentoshi’s target suggests upside potential of over 40% for the leading cryptocurrency.
As for smart contract platform Solana (SOL), Pentoshi sees the Ethereum competitor rallying alongside Bitcoin.
“Filled today $32.26. Looking for a ride up to $37. Will cut on a daily below the local lows.
There is no FOMC (Federal Open Market Committee), or earnings until November. Fed terminal interest rate of 4.6% (pricing at maximum after going from 0 to 4.6%). I think we can push ourselves. Markets have high timeframe support, first test of June low, so it’s now or never.”
At the time of writing, Solana is trading at $33.56, down 1.50% in the last 24 hours.
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Featured image: Shutterstock/antishock/Chuenmanuse
