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

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.”

editorial staff