Popular Crypto Strategist Calls for New Bitcoin (BTC) All-Time High – Here’s His Forecast

A widely followed crypto analyst is unveiling his roadmap for a Bitcoin (BTC) rally toward a fresh all-time high.

Pseudonymous analyst Kaleo tells his 563,800 Twitter followers that Bitcoin is likely setting up for a parabolic surge en route to $40,000 by May this year.

“$30,000 is a magnet, but $40,000 is too.” 

Source: Kaleo/Twitter

Looking at the lower timeframe, Kaleo thinks that Bitcoin could take out its diagonal resistance and rally to $30,000 in the coming days before a brief pullback period to retest the diagonal resistance into support, leading to a surge to $40,000.

“Low timeframe roadmap with commentary.”

Source: Kaleo/Twitter

As for his outlook in the coming months, Kaleo believes that Bitcoin will eventually witness a deep retracement period after hitting his target at $40,000, pulling back to as low as $20,000 by the end of the year. Once the corrective period is over, the analyst expects the king crypto to officially start a new bull market by early 2024 in time for the next Bitcoin halving, an event that slashes BTC miners’ reward by 50%.

Kaleo thinks that the bull market will likely propel BTC to a new all-time high by late 2024 or early 2025.

“And here’s your roadmap through the next halving new all-time highs soon enough. It might seem far off, and it’ll feel like hell but it’ll all happen in the blink of an eye.” 

Source: Kaleo/Twitter

At time of writing, Bitcoin is worth $24,879.

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Source: https://dailyhodl.com/2023/02/21/popular-crypto-strategist-calls-for-new-bitcoin-btc-all-time-high-heres-his-forecast/