A widely followed crypto analyst claims Bitcoin (BTC) could be forming a bullish pattern, setting up a massive breakout.
In a new strategy session, crypto trader Ali Martinez tells his 69,300 followers on social media platform X that Bitcoin could soon surge more than 7% from its current value in the near term.
“In shorter time frames, Bitcoin could form a bullish pennant, hinting at a potential push towards $64,000!”
At the time of writing, Bitcoin is trading at $59,655, up slightly over the past 24 hours.
Next, the trader warns that Ethereum (ETH) competitor Solana (SOL) could print a bearish pattern and could drop more than 16% if it fails to hold $141 as support.
“Solana could be forming a head and shoulders pattern on the hourly chart, suggesting that a drop below $141 could trigger a correction that would send SOL to $122!”
Solana is trading at $146 at the time of writing, up slightly over the past 24 hours.
Finally, the analyst is bullish on Layer 2 scaling solution Polygon (MATIC), but warns of a possible short-term correction.
“If altcoin season kicks off, MATIC will melt faces! But don’t get carried away, as a weekly close below $0.30 would invalidate the bullish thesis.”
MATIC is trading at $0.41 at the time of writing, down slightly over the past 24 hours.
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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