A widely followed trader says Bitcoin (BTC) is not done printing new all-time highs after breaking out of key resistance levels this week.
Analyst Ali Martinez tells his 138,400 followers on the social media platform X that Bitcoin has entered a price discovery phase and may soon increase by more than 33% of its current value.
In crypto trading, price discovery generally refers to an asset soaring to uncharted territory and new all-time high levels.
“Bitcoin is trading at new all-time highs, entering price discovery. The next key levels to watch are $116,000, $126,000, $136,000 and $148,000!”
Bitcoin is trading for $111,042 at time of writing, up 1.8% in the last 24 hours.
Next up, the analyst suggests that Ethereum (ETH) is completing an inverse head and shoulders pattern, a bullish reversal pattern in technical analysis.
“If Ethereum breaks above the $2,588 resistance, it could trigger a bullish move toward $3,000.”
Ethereum is trading for $2,669 at time of writing, up 3.9% in the last 24 hours.
Looking at Solana (SOL), the analyst says that the ETH rival may soon soar to the upper bound of a bullish ascending channel, after bouncing off the lower bound.
“Solana looks poised to target the upper boundary of this channel, with $210 in sight!”
Solana is trading for $179 at time of writing, up 3.9% in the last 24 hours.
Lastly, the analyst says that the top memecoin Dogecoin (DOGE) may be printing a bull pennant pattern on the hourly chart, a continuation pattern where a period of consolidation is often followed by a breakout.
“DOGE appears to be breaking out of a bull pennant, which suggests a target of $0.31!”
DOGE is trading for $0.24 at time of writing, up 4.2% 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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