A widely followed crypto analyst says that Bitcoin (BTC) is gearing up for a big breakout to the upside while updating his forecast on Solana (SOL) and low-cap altcoins.
Pseudonymous crypto trader Altcoin Sherpa tells his 187,800 Twitter followers that Bitcoin could soar more than 30% from its current value of $27,569.
Showing a daily chart of the past Chicago Mercantile Exchange (CME) futures trading gaps for BTC, Sherpa predicts Bitcoin will rise to a gap formed at the $36,000 level, which is the next gap above the $28,000 price level.
Traders tend to be on the lookout for price gaps as these deviations in trading often get filled.
Says Altcoin Sherpa,
“BTC: Target acquired at $36,000.”
Next, the trader sets his sights on Ethereum (ETH) competitor Solana, forecasting two possible scenarios.
One of his predictions has Solana surging to about $40 and the other one has SOL undergoing a muted rally to about $25.
“SOL: I have no idea what’s going on with this chart. There are a few different ways it could go; either some sort of cup and handle type of thing now or a double bottom. I still don’t know the long term effects that FTX situation will have on it.”
