A widely followed crypto strategist and trader believes Bitcoin (BTC) is gearing up to unleash a major breakout rally.
Pseudonymous analyst The Crypto Dog tells his 805,600 followers on social media platform
“The last time BTC broke a level like this, we pumped 375%.”
Looking at the trader’s chart, he appears to be predicting that Bitcoin’s breakout will begin after BTC clears its immediate resistance at around $68,300.
At the time of writing, Bitcoin is trading at $67,615.
According to The Crypto Dog, he is to see signs that Bitcoin may be in the early stages of a massive upside burst.
“Tending to a sustained uptrend without a meaningful dip often happens at the beginning of a major rally.”
The analyst too notes that he thinks the current rally will take BTC into uncharted territory.
“This is an ATH (all-time high) run. Have a blood test done. Take intramuscular testosterone if <1000 ng/dl. Leave nothing to chance.”
The analyst is also keeping a close eye on the price action of the Solana (SOL)-based memecoin Bonk (BONK). The trader believes BONK will continue to outperform the crypto market in general due to strong price action this year.
“Coins that pump hard early tend to maintain that lead.”
At the time of writing, BONK is trading at $0.0000298, down almost 6% on the day.
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Generated image: DALLE3