Altcoins

$60k for Bitcoin This Week! Luna and Cake up for a Massive Breakout, Says Analyst

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Bitcoin’s price has risen by 6%, putting it back over $57,000 for the first time since mid-April. It seems to have had an effect on the broader crypto market, with ethereum (ether), bitcoin cash, and litecoin all seeing gains in the last 24 hours.

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A widely-followed crypto strategist who in a new tweet, says that Bitcoin is poised to rise higher, while two large-cap altcoins are preparing for a new breakout.

Following its recent risky price activity, Crypto kale believes that Bitcoin now appears to be on the verge of a big leap upward, predicting that the commodity will return above $60,000 this weekend.

Bitcoin Price has reached new fresh highs on many occasions this year, rising from just under $30,000 per bitcoin at the start of 2021 to nearly $65,000 earlier this month. Kaleo is hoping for another leg up in the near future. He says that he wouldn’t be shocked if BTC grinds higher to $60,000+ this weekend, setting up a CME gap up on Sunday.Also another chart shared by Kaleo shows the king coin reaching $67,000 by the end of this week.

LUNA And CAKE Price Forecast

Kaleo is also keeping a close watch on Terra, a blockchain network (LUNA). LUNA is bullish against Bitcoin (LUNA/BTC), according to the dealer, and has been buying dips in the pair.

“The entire ladder up to the all-time high in March was defined by impulse moves up, followed by slower bleeds down, repeat. It’s been profitable to buy red, so I like this as an entry opportunity.”

According to Kaleo, LUNA is expected to rise nearly 40% against BTC in the coming days, from its current value of 0.00029 to 0.0004.

Kaleo is also bullish on the LUNA/USD pair, claiming that the pair is possibly in a new accumulation process, during which he will keep the asset. 

He says he is holding on to it. After a breakout, he still sees accumulation, which should signal the start of the next leg up soon. Patience is a virtue, he adds.

The trader also predicts that LUNA may soon print profits of nearly 20% from its current value of $16.75.

LUNA. Send it to $20.”

Kaleo also tweeted that CAKE, PancakeSwap’s governance token, is expected to rise over 30% in the near term from its current price of $38.31.

“CAKE is such a machine. $50 is imminent.”

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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