dailyhodl.com
A widely followed analyst and trader who accurately predicted the 2018 Bitcoin (BTC) bottom is expressing bullish sentiment on a top-10 crypto asset by market cap.
The analyst and trader pseudonymously known as Bluntz tells his 269,700 followers on the social media platform X that BNB has a bullish-looking chart on the weekly time frame.
According to the widely followed analyst, the fourth-largest crypto asset by market cap could go up by around 72% from the current level “soon.”
“Consolidation under prior all-time with a sweep of both the top of the range and bottom of the range and has now reclaimed it.
These setups are tier-one setups in my opinion and we’ve been handed one on an extremely high time frame.
Legit what dreams are made of in my opinion, $1000 soon.”
At time of writing, BNB is trading at $583, around 18% below the all-time high of $717 reached in early June.
Next up is Bitcoin. According to the pseudonymous analyst, Bitcoin’s choppy consolidation phase that has run for two weeks now is on the verge of coming to an end.
“]Bitcoin] bears had their chance but we’re tapping resistance [at around $62,096] too many times now, I think a breakout is near.”
Based on Bluntz’s chart, it appears that the widely followed analyst is suggesting that Bitcoin is forming an inverse head and shoulders pattern in the four-hour time frame. An inverse head and shoulders pattern is typically considered a bullish reversal pattern.
Bitcoin is trading at $60,570 at time of writing.
Generated Image: DALLE3