A cryptocurrency analyst who identified the peak of Bitcoin‘s (BTC) massive rally in 2021 has stated that BTC is gearing up for an explosive rally.
Upward Expectations for BTC
The expert, known for successful analyses in previous years, stated that Bitcoin’s recent gradual rise is preparing BTC for a significant upward movement. The analyst said:
This slow progress in BTC reminds me of those that eventually lead to much bigger moves.
According to Pentoshi, Bitcoin is unlikely to rise in a straight line, but any pullbacks are expected to be short-lived. The expert stated:
There will be some sharp retracements in BTC, but if this is a new trend, they will likely be short-lived.
Analyst’s Comment on LINK and SOL
The analyst also discussed the price movement of the decentralized oracle network Chainlink (LINK). Pentoshi noted that LINK has already surpassed a significant accumulation range and appears ready to reach its target of around $12. The analyst highlighted the following about LINK:
There have been people who underestimated this for a year. Think of it as a huge time + opportunity cost. With such an exit, you don’t have to pay for the time element. In general, you can lend tokens in the short term and then return them to the market.
Next, the senior analyst discussed Solana (SOL), a smart contract platform, and suggested that the altcoin would experience a minor pullback below $26 before rising towards its target of $36. The analyst concluded:
SOL is one of the tokens I expect to have a significant rise this year and deserves an upgrade. I believe we will see something similar in the short and medium term. In my opinion, it is a great high probability cryptocurrency.
At the time of writing, the current value of the popular altcoin LINK was around $10.46.
