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Categories: Bitcoin
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August 30, 2024

Bitcoin Primed To Hit a New All-Time High, Says Crypto Analyst – Here’s His Timeline

By Daily Hodl Staff

A widely followed crypto analyst believes that Bitcoin (BTC) is primed for an explosive breakout that could take it to new all-time highs (ATHs).

Pseudonymous crypto trader Inmortal tells his 215,300 followers on the social media platform X that Bitcoin could flip its ATH of about $74,000 into support within four months.

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“New BTC all time high by EOY (end of the year).”

The analyst suggests that Bitcoin may not return to the $49,000 level before reaching a new ATH.

“Maybe the low of this consolidation is already in.”

Source: Inmortal/X

He also says that Bitcoin could trade around the $58,000 range heading into September and then reclaim the $62,000 level as support during the first week of the month.

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“1. Wait.
2. Let the price set the September open.
3. Long the reclaim.”

Source: Inmortal/X

Lastly, the analyst suggests that Bitcoin is about to enter the most explosive phase of its market cycle with a clean break of the previous all-time high.

“Soon we go brrrr.”

Source: Inmortal/X

Bitcoin is trading for $59,219 at time of writing, up slightly in the last 24 hours.

Next up, the analyst says that Ethereum (ETH) may retest a lower level and then soar to $3,200, an increase of more than 26% the current value.

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“Wait for $2,500, then long.”

Source: Inmortal/X

Ethereum is trading for $2,520 at time of writing, down slightly in the last 24 hours.

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