Bitcoin (BTC) and Solana (SOL) Price Might See Short-Term Rally This Week!

The post Bitcoin (BTC) and Solana (SOL) Price Might See Short-Term Rally This Week! appeared first on Coinpedia Fintech News

A well-known crypto strategist and analyst, Pentoshi, who had predicted the end of the bull market, has revealed his bullish stance towards Bitcoin (BTC) and another currency, Solana (SOL).

The analyst tries to claim his stance by informing his 612,000 followers over Twitter that his earlier bearish approach has flipped towards the ongoing bull run.

Though he stuck towards his bearish stance for almost ten months, he asserts brighter days ahead for the cryptocurrency.

$BTC

Hard to switch bias after being a doomer for 10 months but I do think this can play out in the next 2 months

I'm also a HTF bias person. So focused more on larger time frames.

I have reasons for this and will go over tomorrow if I have time to do so. https://t.co/Q1M2fS6dTZ pic.twitter.com/7dUssj1U0y

— Pentoshi (@Pentosh1) September 22, 2022

Bitcoin (BTC) Above $26k?

As per the analyst, since November 2021, Bitcoin’s diagonal resistance has stopped BTC from rising above. However, now he claims that this phenomenon is seeing an end once and for all. 

Hence, based on this claim, Pentoshi predicts Bitcoin’s price action shall rise above $26,721.

$BTC
Same chart from yesterday

Horizontal levels are good for years quite often, especially HTF ones

Diagonals or dynamic resistance always has a lifespan

Can't help but feel this diags lifespan is nearing it's end with a low-mid time frame reset

*outlined reasons today pic.twitter.com/1hMHBQCIsF

— Pentoshi (@Pentosh1) September 23, 2022

At the time of publication, Bitcoin is valued at $19,063 after a fall of 0.14% in the last 24hrs. If Bitcoin bulls decide to move as per the analyst’s prediction, BTC will see a jump of nearly 40%.

Solana (SOL) At $37

Next, the expert discusses Solana (SOL), a smart contract platform and an Ethereum competitor.

The analyst says that Solana, selling above $32 at the moment, will see a bull run towards $37 as until November, there is no FOMC (Federal Open Market Committee). Hence, Pentoshi believes that overall, the Market is on high timeframe support.

1/2$SOL

Filled today $32.26

Looking for a ride up to $37

Will cut on a daily below the local lows pic.twitter.com/ALcWStF4tN

— Pentoshi (@Pentosh1) September 23, 2022

To add onto my switch + thread today. There is no FOMC, or earnings until Nov. Fed terminal rates at 4.6% (pricing in the max after going from 0 to 4.6%)

Think we can squeeze up. Markets are all at htf support first test of June lows so it's now or neverhttps://t.co/Vt5BTL9Kpm

— Pentoshi (@Pentosh1) September 23, 2022

At the time of writing, Solana is trading at $32.90 with a pullback of 2.83% over the last day.