Analyst Predicts Bitcoin Breakout to All-Time High Soon: Is $120,000 in Sight?
An analyst known for making timely calls in the crypto market has set his sights on Bitcoin (BTC) breaking out to new all-time highs in the near future. Pentoshi, a pseudonymous analyst, took to social media to share his bullish outlook on the leading cryptocurrency.
Pentoshi, with a substantial following of 869,100 on X, expressed confidence in Bitcoin’s potential to surge to an all-time high within the next few days. He stated, “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.”
Currently, Bitcoin is trading at $108,047, showing a slight decline of over 1% in the past day. In addition to Bitcoin, Pentoshi is also closely monitoring the meme coin Floki (FLOKI), drawing comparisons to the price action of fellow meme token Bonk (BONK).
With BONK up around 100% from its June 25th low, Pentoshi sees potential for FLOKI to follow a similar trajectory. He noted, “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.”
According to Pentoshi’s analysis, FLOKI could potentially reach $0.000206 after initially hitting $0.000121. At the time of writing, FLOKI is trading at $0.000081. As for BONK, the analyst believes that the altcoin may experience a period of consolidation before embarking on its next upward movement.
Pentoshi’s chart suggests that BONK could rally to $0.0000367 if it surpasses resistance at $0.0000258. Currently, BONK is valued at $0.0000227. With these insights in mind, crypto enthusiasts are eagerly watching to see if Pentoshi’s predictions come to fruition.
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