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The crypto analyst Sheldon the Sniper recently took to his youtube channel, Crypto Banter, the world’s first live interactive social cast for the crypto community, to share his thoughts on the bullish run for Bitcoin and its potential to reach its all-time high price once again.
It shows that when there is a true blow-off, strong bullish push from Bitcoin, price always goes slowly, and for the last few days or the last few weeks is where it really expands.
Sheldon supported this statement by showing the previous run of Bitcoin and explained that there was a short squeeze gap at over $32,000, and the next resistance was sitting at around $36,000 to $38,000.
Bitcoin’s dominance resulted in breaking the wedge with the CPI reading at 5%. Sheldon believes that it could reach another level of dominance at around $35,000 to $37,000, given its current straight bullish run. However, he pointed out that in previous bear markets, where Bitcoin boiled up for longer periods, such as from February 2018 to August 2019, it eventually went straight downhill.
Sheldon also shared his observations on some of the altcoins that are bouncing, namely NEARL, Solana, FTMUS, and AvaxUp. For the analyst, these coins are the next to lift off, followed by small caps. Sheldon concluded that “total breakouts bring in big money.”