Analyst Sees Bitcoin Rallying to New All-Time Highs Around the Halving, Says BTC Mirroring Pre-ETF Movement – The Daily Hodl

A following cryptocurrency strategist believes Bitcoin (BTC) is poised to hit new all-time highs after falling to around $60,000 last week.

Pseudonymous analyst Kaleo told his 634,700 followers on social media platform , at a time when the market was anticipating the approval of a spot BTC exchange-traded fund (ETF).

According to the trader, he expects Bitcoin to rise to an all-time high near the halving, when BTC miners’ rewards are halved. However, he predicts that BTC will see a significant correction after the rally before leading to a sharp rally.

“My favorite price structure comparison to look at right now heading into the halving is the pre-ETF timeframe in December. From here we will see another high, heading into the halving later this week. It’s easy to imagine it going down and then hitting new highs.”

Analysts are sharing hourly charts of BTC before the ETF is approved.

sauce: Kaleo/X

He then shared another chart suggesting that BTC may be following the same pattern.

Source: Kaleo/X

At the time of writing, BTC is worth $65,795.

This trader also has an eye on BNB, which is a utility token in the BNB Chain ecosystem.

According to Kaleo, BNB appears poised to break through diagonal resistance and rally to all-time highs near $1,000.

“BNB still appears poised to break out of this range.”

sauce: Kaleo/X

At the time of writing, BNB is trading at $566.4.

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Generated image: DALLE3