Bitcoin and Polygon (MATIC) have been experiencing high levels of volatility lately. However, according to a top crypto expert, the two digital assets may be in store for major movements in the near future. The analyst, identified as Kaleo, believes that MATIC, an Ethereum-based token, could be in line for a reversal, while Bitcoin might be entering a period of consolidation prior to a parabolic surge.
Polygon (MATIC) May See Reversal
Kaleo is a popular crypto analyst on Twitter and he recently shared his opinion that MATIC could be getting ready for a move upwards, with a dip below $1 beforehand. As soon as this happens, the expert anticipates that there will be a rally to around $1.70.
Kaleo’s prognosis is based on his chart, which shows that MATIC might be getting ready to breach its diagonal resistance. He believes that previous diagonal breaks have caused major impulse moves for each leg higher throughout this uptrend.
Bitcoin Consolidating for Upcoming Parabolic Surge
In addition to his MATIC analysis, Kaleo is also updating his Bitcoin forecast. He believes the leading cryptocurrency could be consolidating before a parabolic jump in the following months. His chart reveals that Bitcoin could skyrocket to $45,000 by May, after which it could set up a bull trap, dropping back to approximately $37,000.
Despite news of layoffs from Polygon Labs, the crypto market has been gradually recovering since January 2023. However, the recent price pattern could lead to a further bearish movement for the altcoin. Meanwhile, Bitcoin has been exhibiting a steady pattern of ideal times for decision-making in crypto trading strategies – buy, hodl, and sell.
Looking Ahead
There can be no guarantees in the crypto market, but Kaleo’s success rate in predicting altcoin trends suggests that traders could take his predictions seriously. With the crypto market still in a bearish state, this could be an ideal time to purchase BTC before it increases in value. As for MATIC, traders will have to wait and see if Kaleo’s prediction of a reversal comes true.
