A well-known crypto analyst believes Bitcoin is about to break out and reach new all-time highs.
Analyst Predicts Big Breakout
Bluntz, a popular analyst on the social media platform X, says Bitcoin is currently in the final leg of a five-wave surge. He uses the Elliott Wave theory, which predicts that bullish assets will rise in five waves, with three of them representing strong upward movements.
Bluntz points to the recent weekly Bitcoin price action as a strong indicator of this final wave. He says the timing of the previous two waves, known as waves two and four, were almost identical, which is a positive sign.
Strong Signals on Higher Time Frames
Bluntz also emphasizes that higher time frame charts, like weekly charts, rarely give false signals. He believes the current Bitcoin price action is a clear indication of a wave five surge.
Target Prices for Bitcoin
Bluntz predicts that Bitcoin could reach between $85,000 and $100,000 in this final wave. However, he also suggests that a more extended wave could push Bitcoin as high as $115,000.
Important Note: This information is not investment advice. Always do your own research before making any investment decisions.
/p>
