A popular crypto analyst, known as Bluntz, thinks Bitcoin might take a little dip before it starts climbing again.
Bitcoin’s Five-Wave Rally
Bluntz, who uses the Elliott Wave theory to predict price movements, believes Bitcoin’s recent 15% surge from its October low was a five-wave pattern. He thinks the next move could be a three-wave correction, potentially taking Bitcoin down to around $62,000.
“I wouldn’t be surprised to see another pullback this week before the real breakout attempt next week,” Bluntz said on X, formerly known as Twitter.
Memecoins WIF and POPCAT Show Bearish Signs
Bluntz isn’t so optimistic about two memecoins, dogwifhat (WIF) and Popcat (POPCAT), both part of the Solana (SOL) ecosystem. He sees bearish divergences in their daily charts, meaning the price is making higher highs while technical indicators are showing lower highs.
“These bearish divergences aren’t ideal for WIF and POPCAT,” Bluntz said. “I’m interested in buying them when the time is right, but they need some time to play out.”
WIF is currently trading at $2.63, up 75% in the past 30 days. POPCAT is at $1.25, up over 80% in the same period.
Remember: This is just one analyst’s opinion. Do your own research before making any investment decisions.
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