Pseudonymous crypto trader Kaleo tells his 645400 followers on the social media platform X that Solana (SOL) could decline by more than 36% of its current value.

A popular crypto analyst is sharing his outlook for Bitcoin (BTC) and predicts a massive breakout after the US presidential election.

The pseudonymous trader, known as Dave the Wave, tells his 126,000 followers on the social media platform Twitter that Bitcoin is forming a IHS (inverse head and shoulders) pattern on his long-term chart. According to the trader, the technical formation suggests that BTC could correct sharply after hitting his target buy zone.

“Still ranging Dave? IHS (inverse head and shoulders) forming on the long-term BTC chart. Target measured from the neckline puts us at around $42,500. Could we wick there after hitting my long-term buy zone (support, fib confluence)?“

Based on Dave’s chart, Bitcoin could correct by more than 21% from its current price, reaching lows of $42,500. However, after the sharp decline, the trader predicts that BTC will begin a massive rally, breaking through all-time highs and reaching prices above $88,000 by early 2025.

“If so, then a quick flush into the election followed by a melt-up into early ’25 sounds about right. I’m thinking $88,000, give or take.”

Bitcoin is trading for $53,906 at time of writing, according to CoinGecko.

The above is the detailed content of Crypto Trader Kaleo Predicts 36% Correction For Ethereum (ETH) Competitor Solana (SOL), New All-Time Highs (ATH) to Follow. For more information, please follow other related articles on the PHP Chinese website!