A closely watched crypto strategist believes Bitcoin (BTC) is now poised to explode in the next phase of its bull market.
Anonymous analyst Kaleo shared with his 648,200 followers on social media platform X that Bitcoin is in a position to launch a bull run that will last until the end of 2025.
The trader revealed an inverted chart of Bitcoin that shows BTC is likely to hit the resistance of his logarithmic growth curve next year, heading towards a massive price target of nearly $220,000.
“Okay, I surrender.”
“Be more optimistic.”
Looking at the trader's contrarian chart, it appears that Bitcoin typically sees strong price rallies in the months following a halving event, when the reward for BTC miners is cut in half.
Taking a closer look, Kaleo suggests that Bitcoin will consolidate for the next few days before breaking out, breaking through multiple resistance levels.
“Back to plan A.”
Based on the chart, the analyst appears to be predicting that Bitcoin will reach a new all-time high early next month.
Bitcoin is currently worth $59,997, up more than 3% on the day.
Regarding the US Dollar Index (DXY), traders believe it has peaked and is set to move lower around 72 by 2026.
“Imagine if the path on the DXY chart I drew 19 months ago continued to play out exactly…”
“Just imagine.”
Kaleo originally predicted the DXY crash in May 2023. The DXY index has followed the price trajectory he outlined since then.
DXY is an index that tracks the value of the US dollar against a basket of major fiat currencies. A decline in DXY is typically positive for risk assets like stocks and cryptocurrencies. This shows that investors are spending their dollars to accumulate risk assets.
Currently, DXY is trading at 100.898.
