A widely followed cryptocurrency analyst and trader who hit the 2018 Bitcoin bottom expresses bullish sentiment on Bitcoin (BTC).
Pseudonymous crypto strategist Bluntz tells his 269,300 followers on social media platform
Bluntz is a popular practitioner of the Elliott Wave theory, which states that a bullish asset tends to witness rallies after the conclusion of a three-wave correction.
Says the analyst,
“So far BTC has clearly gone down in three waves, this will ultimately be a higher low in my opinion.
Time to bid on your favorite coins.”
Looking at the trader’s chart, he seems to predict that Bitcoin will rise to $68,000.
Bitcoin is trading at $59,320 at the time of writing, up 3.74% in the past day.
Next is the best smart contract platform Ethereum (ETH).
The analyst say Ethereum appears to be trading within an ascending triangle pattern, a typically bullish formation formed by a series of higher lows and a horizontal upper trendline that acts as a resistance level.
Says Bluntz,
“ETH It seems like the country is gearing up for an outbreak here, in my opinion.”
Ethereum is trading at $2,605 at the time of writing, up 1.72% in the past 24 hours.
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Generated image: FLUX