dailyhodl.com
A widely followed cryptocurrency analyst and trader who nailed the 2018 Bitcoin bottom is expressing bullish sentiment on Bitcoin ($BTC).
Pseudonymous crypto strategist Bluntz tells his 269,300 followers on the social media platform X that he believes Bitcoin has likely bottomed out after completing an ABC corrective move on the four-hour chart.
Bluntz is a popular practitioner of the Elliott Wave theory, which states that a bullish asset tends to witness rallies after concluding a three-wave correction.
Says the analyst,
“Clear three-wave move down on $BTC so far, this ends up being a higher low, in my opinion.
Time to bid your favorite coins.”
Looking at the trader’s chart, he appears to predict that Bitcoin will rally to $68,000.
Bitcoin is trading at $59,320 at time of writing, up 3.74% in the past day.
Next up is the top smart contract platform Ethereum ($ETH).
The analyst says Ethereum appears to be trading within an ascending triangle pattern, a typically bullish formation formed by a series of higher lows and a horizontal upper trendline that acts as a resistance level.
Says Bluntz,
“$ETH looks like it’s gearing up for a breakout here, in my opinion.”
Ethereum is trading at $2,605 at time of writing, a 1.72% increase in the last 24 hours.
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