Anonymous crypto analyst Altcoin Sherpa stated that Bitcoin‘s all-time high (ATH) is just a matter of time and it will reach around $69,000, the highest level ever. The analyst also evaluated the current outlook for Chainlink (LINK) and Avalanche (AVAX).
Altcoin Sherpa: Bitcoin (BTC) is About to Start its ATH Journey
Altcoin Sherpa, an anonymous crypto analyst, expressed on his personal X account that Bitcoin will eventually rise and return to its all-time high of around $69,000, stating, “Don’t get lost in lower time frame charts and amidst complexity. BTC’s rise to its previous ATH is inevitable, don’t fight it.”
Bitcoin is currently trading at $26,880 and a rise towards its all-time high of $69,000 represents an increase of over 150%.
Analyst’s Analysis of Chainlink (LINK) and Avalanche (AVAX)
Altcoin Sherpa, after Bitcoin, looked at Chainlink’s LINK and claimed that this major altcoin has been in a consolidation range for over 500 days, but a major breakout will occur at the end of this consolidation:
LINK has been moving within a consolidation and downtrend for over 500 days. It will fly one day. I think the best way to trade LINK for most investors is to buy within the cost average range of $5-7. Buying within this range is the right move, and the range needs to be broken for an upward movement. The leading sign of the breakout will be the breach of around $6.8.
Lastly, the analyst looking at Avalanche (AVAX), positioned as an Ethereum (ETH) competitor, emphasized that the altcoin could increase by more than 14% from its current value in the medium term, stating, “I think AVAX offers a buying opportunity at the bottom. Stars Arena is coming back because all stolen AVAX from the hack attack has been returned. It is in a logical S/R (support/resistance) zone, and it is very close to the starting point of the uptrend. I expect it to go back above $10 in the medium term.”
When looking at the graph shared by the analyst for AVAX, it is expected that the altcoin will encounter resistance at $9.79, then slightly decline and rise to around $10.50.
