A well-known crypto analyst believes Bitcoin is about to break out and surge higher.
Shallower Dips, Stronger Rally?
Bluntz, a popular analyst on social media, says Bitcoin has been experiencing smaller dips in recent weeks. He thinks this is a sign that the market is getting ready for a major upward move.
Bluntz uses the Elliott Wave theory to analyze Bitcoin’s price movements. This theory suggests that price action follows predictable patterns, like waves. According to Bluntz, Bitcoin is currently in the second wave of a five-wave surge. This means the next wave, wave three, could be a powerful rally.
Key Levels to Watch
Bluntz says Bitcoin needs to stay above $65,300 to confirm his prediction. If it does, he expects Bitcoin to consolidate around $68,000 before launching into a strong wave three rally.
Disclaimer
Remember, this is just one analyst’s opinion. Investing in cryptocurrencies is risky, and you should always do your own research before making any decisions.
