An analyst with a history of timely Bitcoin calls believes that conditions are now ripe for BTC to witness massive upside bursts to new all-time highs.
Pseudonymous analyst Bluntz tells his 289,300 followers on social media platform
“It’s happening BTC.”
Bluntz applies Elliott Wave theory, which states that a bullish asset tends to go through a wave of five, with waves one, three and five being upward moves and waves two and four being correction periods.
Looking at the trader’s chart, he seems to suggest that BTC is in the midst of a major wave three rally heading to $106,000, before a wave four pullback and a boom to $122,000.
At the time of writing, BTC is worth $72,624, up more than 3% in the past day.
As for Dogecoin (DOGE), the crypto strategist is also in the early stages of a five-wave rally with a price target of around $0.40.
“Presented without commentary.”
At the time of writing, DOGE is worth $0.174, up more than 10% in the past day.
As for fellow memecoin dogwifhat, the trader thinks WIF is ready to start a new run after the altcoin printed a bullish divergence signal on the four-hour chart.
“We have double bulldivs on WIF [four-hour chart] now.”
A bullish divergence is a bullish reversal signal because it suggests that an asset’s momentum is rising and falling even as the price moves lower or sideways.
At the time of writing, WIF is worth $2.59, up over 5% on the day.
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Generated image: Midjourney