A popular crypto analyst believes Bitcoin (BTC) will dip one last time before soaring to record highs.
Bull Pennant Pattern
Bluntz, a pseudonymous analyst, says BTC is forming a “bull pennant” pattern on its three-day chart. This suggests a final leg down to around $60,000, setting the stage for a rally above $80,000.
$87,500 Target
Bluntz predicts BTC could reach $87,500 by year-end.
Memecoin Watch
Bluntz is also monitoring the memecoin dogwifhat (WIF), which he believes is bearish and could drop to $1.
Elliott Wave Theory
Bluntz uses Elliott Wave theory, which suggests that after a five-wave rally, an asset typically undergoes an ABC correction. He believes WIF has completed its five-wave surge and is now in the ABC correction phase.
