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An analyst with a history of timely crypto calls believes that Bitcoin (BTC) will break out and trade in uncharted territory soon.
Pseudonymous analyst Pentoshi tells his 869,100 followers on the social media platform X that he thinks Bitcoin will surge to an all-time high (ATH) price in the next few days.
“Feel it in my flippers that we see BTC at ATH this week
The market, especially ETH and BTC both have a lot of tailwinds so far (barring anything unexpected)…
If we break out, I think we see $118,000-$120,000 pretty quick.”
At time of writing, Bitcoin is trading for $108,047, an over 1% drop in the past day.
Pentoshi is also keeping a close eye on the memecoin Floki (FLOKI), which he thinks is positioned to follow in the footsteps of fellow meme token Bonk (BONK).
BONK is up about 100% from its June 25th low of $0.0000123.
According to Pentoshi, FLOKI’s chart appears to be a carbon copy of BONK’s price action before the memecoin triggered a massive price explosion.
“Similar chart to this (almost identical).
I think we will see it trade up to TP1 to start, and that will be the spot to watch. If it gets into the previous range, that opens the door to TP2.”
Looking at the trader’s chart, he seems to suggest that FLOKI will first hit $0.000121 with the potential to surge to as high as $0.000206. At time of writing, FLOKI is trading at $0.000081.
As for BONK, the analyst thinks that the altcoin will cool off before sparking the next leg up.
“BONK update: +50% but coming into resistance just above here.
A little profit taking and consolidation likely around there before any attempts higher.
Would like to see a three-day or one-week close above [$0.000024].”
Based on the trader’s chart, he seems to suggest that BONK will rally to $0.0000367 if it takes out resistance at $0.0000258.
At time of writing, BONK is worth $0.0000227.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency 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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