Crypto Analyst Predicts Major Bitcoin Rally Ahead
A prominent crypto analyst is forecasting a significant breakout for Bitcoin (BTC). Known online as The Crypto Dog, this trader suggests that Bitcoin is on the verge of a major surge, reminiscent of its dramatic rise in late 2020, when BTC skyrocketed from $14,000 to $69,000 over a few months.
The Crypto Dog points out that Bitcoin’s recent price action resembles patterns seen during that previous rally.
Last time BTC broke a level like this we pumped 375% pic.twitter.com/M5GKsCTFQL
— The Crypto Dog 📈 (@TheCryptoDog) July 19, 2024
He predicts that Bitcoin will start a notable rally once it surpasses the immediate resistance level at approximately $68,300.
Currently, Bitcoin is trading around $66,700. The analyst believes that Bitcoin may be in the early stages of a substantial upward movement, suggesting a potential for an extended uptrend without significant setbacks.
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He anticipates that this could lead to new all-time highs for the cryptocurrency.
In addition to Bitcoin, The Crypto Dog is monitoring the performance of Bonk (BONK), a memecoin based on the Solana (SOL) network.
He expects BONK to maintain strong performance and continue outperforming the broader crypto market, noting that early high-performers often retain their momentum.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
