A widely followed crypto trader says Bitcoin (BTC) and two more altcoins have much more room to run in their respective rallies.
Pseudonymous strategist Pentoshi tells his 675,200 Twitter followers that the king crypto can shoot up by another 30%.
He says the strength of the daily candle for Bitcoin is leading him to predict a rally to as high as $32,000. Bitcoin is worth $24,894 at time of writing.
“This candle for BTC is just: Wow. As stated January 1st, I think the high range for this year is $28,000-$32,000. Have a feeling if we get there that’s going to be a super tough spot.
This thing is truly wild lol. Looking at it in complete awe.”
The popular trader is also predicting a rally for Polygon (MATIC). He says Polygon will likely turn the $1.30 price level from resistance to support with the excitement over the planned March 27th launch of the blockchain’s scaling upgrade zero-knowledge Ethereum Virtual Machine (zkEVM) mainnet beta. He says Polygon could next be headed for $1.80.
“MATIC [in my opinion] soon $1.30 area is likely to flip to support. That can happen with the narrative for March 27th launch date. By then should be moving strong. Will be looking to buy dips and be patient and it to be one of the dominant narratives in a few weeks.”
MATIC is trading for $1.42 at time of writing.
Pentoshi also says Polygon is reaching its all-time high price against Bitcoin, signally a likely rally.
“Just looked at the MATIC/BTC pair as well for some confluence Astonished at how well it held up. Literally knocking at its ATH vs BTC. Sometime next month it’s likely in price discovery here. First place I’ll add is $1.30, and $1.25-.27 if we get it.”
Lastly, Pentoshi says The Sandbox (SAND) should return to range highs after a period of consolidation.
“SAND: This looks like a really nice consolidation and probably moves back up to the range highs [around $0.85]. I don’t own any but these are the types of charts that look good to me.”
SAND is trading for $0.79 at time of writing.
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Source: https://dailyhodl.com/2023/02/16/crypto-trader-says-hes-in-complete-awe-of-bitcoin-predicts-btc-will-rally-by-up-to-30-heres-the-timeline/