A closely watched crypto strategist thinks Bitcoin (BTC) is now about to unleash the next phase of its bull market.
Pseudonymous analyst Kaleo tells his 648,200 followers on social media platform X that Bitcoin is now in a position to launch rallies that will last until the end of 2025.
The trader shares an inverse Bitcoin chart, suggesting that BTC will reach the trendline of its logarithmic growth curve next year to rise to its huge price target of around $220,000.
“Okay, I give in.
Be more [bullish].”
Looking at the trader’s inverse chart, he seems to suggest that Bitcoin tends to see steep rallies a few months after the halving, when rewards for BTC miners are halved.
Zooming in, Kaleo thinks Bitcoin will consolidate for a few more days before forming spikes that clear multiple resistance levels.
“Back to plan A.”
Based on the chart, the analyst seems to predict that Bitcoin will reach new all-time highs early next month.
At the time of writing, Bitcoin is worth $59,997, up more than 3% on the day itself.
As for the US dollar index (DXY), the trader believes that it has already reached its peak and is about to go to a much lower level, around 72 in 2026.
“Imagine if the path on this DXY map I drew 19 months ago continues to play perfectly…
Just imagine.”
Initially Kaleo made the calls for a DXY collapse in May 2023. DYX has been following its set price path ever since.
The DXY is a measure that tracks the value of the US dollar against a basket of major fiat currencies. A plummeting DXY is usually bullish for risky assets like stocks and crypto. It suggests that investors are spending their dollars to accumulate risky assets.
At the time of writing, the DXY is trading at 100.898.
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Generated image: Midjourney
