A widely known cryptocurrency analyst believes Bitcoin (BTC) is set to rally to new highs.
Anonymous analyst Blunts told his 270,000 followers on social media platform X that he believes Bitcoin has started a new fifth-wave surge after breaking above the $62,000 resistance level, which could propel BTC to new all-time highs.
Traders practice Elliott Wave Theory, which explains that bullish assets often make five-wave uptrends before a significant correction occurs.
Bluntz says:
“We’ve found a breakthrough, and I’m confident that from now on, we’ll have the best record ever.”
Based on charts from an anonymous analyst, Blunts appears to be suggesting that Bitcoin could ride multiple waves to $84,000 by mid-September.
At the time of writing, Bitcoin is trading at $63,888, up more than 5% over the past day.
Looking at Sei, a competitor to Solana (SOL), the analyst believes SEI could see explosive upside against Bitcoin and the US dollar.
“I think SEI is about to collapse.
The SEI/BTC pair is showing a bullish weekly gain. The SEI/USD pair is clearly showing a 5-wave rise from the low and has already seen a nice pullback and a huge negative funding.”
A bullish divergence occurs when an asset’s price forms a lower low while printing a higher low on a momentum oscillator such as the Relative Strength Index (RSI). Based on the trader’s chart, it seems like he is expecting the SEI to rally closer to $0.40.
As of this writing, SEI is trading at $0.338, up more than 18% on the day.
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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.
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