A widely followed crypto analyst says that Bitcoin (BTC) appears primed to skyrocket to a six-figure price tag but warns investors that it may go through a correction first.
In a new thread, pseudonymous crypto trader Inmoral tells his 230,800 followers on the social media platform X that the crypto king will make a pit stop around the $85,000 level before shooting up to $100,000.
“$90,000 > $85,000 > $100,000.”
The trader’s chart indicates that the top crypto asset by market cap will once again cross into six-figure territory sometime in May.
According to Inmortal, the $90,000 level is where the flagship digital asset will be tested. However, before it can cross that barrier, its monthly open – or the price it opened up the month with – needs to be retested.
BTC is trading for $87,015 at time of writing, a fractional increase during the last 24 hours. On March 1st, BTC opened up with a price of $84,373.
Moving on to the smart contract platform Solana (SOL), Inmortal says the Ethereum (ETH) rival is primed to bounce back from its recent dip of over 60%, as it did in 2021 before it sparked a massive rally.
“In 2021, SOL did a -67% right before a +1200% Just a reminder, the current -61% dip is not a game over.”
Solana is trading for $134.60 at time of writing, a 1.2% decrease during the last day.
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