A dealer identified for calling crypto bottoms thinks Bitcoin’s (BTC) run towards $100,000 and past has began.
Bybit’s high Grasp Dealer Bluntz tells his 265,800 followers on the social media platform X that Bitcoin is within the midst of a five-wave surge en path to new all-time highs.
The analyst makes use of Elliott Wave principle, which states {that a} bullish asset tends to witness a five-wave rally the place waves one, three and 5 are upside strikes and waves two and 4 are corrective durations.
Says Bluntz,
“The [last] BTC weekly is an absolute monster and has been up solely from [July 8th] lows.
I believe a pullback comes from horizontal resistance round $71,000 after everybody sidelined has efficiently FOMO’ed (worry of lacking out) again in.
Markets are very environment friendly at doing that.”
Trying on the dealer’s chart, he appears to counsel that BTC will appropriate to $60,000 for wave two earlier than hovering to as excessive as $110,000 to finish its five-wave uptrend.
At time of writing, Bitcoin is buying and selling for $68,148, up over 1% on the day.
The dealer can be retaining a detailed watch on the Solana (SOL)-based meme token Popcat (POPCAT). Bluntz says he’s bullish on the memecoin and expects it to soar to higher heights after flipping its earlier all-time excessive stage at $0.73 into help.
“All-time excessive retest full, POPCAT full sends quickly for my part.”
At time of writing, POPCAT is value $0.912.
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