Trader Says Bitcoin (BTC), Chainlink (LINK) and One Ethereum Rival Setting Up for Rallies
A closely followed crypto trader believes that Bitcoin (BTC) and two altcoin projects are gearing up for massive rallies.
Pseudonymous analyst Inmortal tells his 213,200 followers on the social media platform X that, based on the historical duration of market cycles, Bitcoin has much higher to go.
“We still have room for 500 more green days.”
Bitcoin is trading for $61,486 at time of writing, down 2.4% in the last 24 hours.
Next up, the trader says that blockchain oracle Chainlink (LINK) appears to be in a consolidation phase that could lead to a massive breakout, based on historic price patterns.
“The most curious thing about LINK is how it works.
- Long consolidations.
- Fast pumps.
We are not in the second one so we must be in the first one.”
LINK is trading for $13.83 at time of writing, down nearly 3% in the last 24 hours.
Lastly, the trader predicts that Ethereum (ETH) competitor Solana (SOL) will dip below the ascending trendline on the daily chart to the $120 range, forming a bearish trap, before going on a massive bull run beyond $230.
“The fastest horse of the cycle just need one more trap.”
Solana is trading for $141.51 at time of writing, down 6% in the last 24 hours.
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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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