A self-declared cryptocurrency whale whisperer known for being a top trader on BitMEX is bullish on Bitcoin’s trajectory over the next five months.
In a new viral tweet, AngeloBTC tells his 150,000 followers on Twitter that BTC is coiling in a triangle that will lead to an eventual breakout and surge to $16,000 by October.
"$16k by October. The charts never lie." $BTC pic.twitter.com/fu9a8prU7T
— Angelo?TC (@AngeloBTC) May 21, 2020
Last month, Angelo compared Bitcoin’s current path to the early days of its epic run to $20,000 back in 2017. This time around, he believes BTC is en route to $30,000 in 2021.
“Crazy how they had to tank the stock market to shake people out before the halving. Crazy how we are still going to $30k.”
BTC is currently battling psychological resistance at the $9,000 level. At time of publishing, Bitcoin is down 4.50% in the last 24 hours at $9,072, according to CoinMarketCap. That’s an 8.39% drop from a recent high of $9,903 set on May 17th.
In the short term, analyst and trader Michaël van de Poppe says BTC is at risk of a further drop to low $8,000 levels.
“Testing the support level here (might wick to $9,100), after breaking below the rising wedge structure. Holding here and we can test the range highs again.
If Bitcoin can’t, I’m assuming the $8,200-8,500 level to be tested as support next.”