One closely watched analyst believes Bitcoin (BTC) will hit an all-time high in the next two weeks.
pseudonymous analyst Bluntz told his 256,600 followers on social media platform X that Bitcoin is in the midst of a third wave surge.
Bluntz utilizes Elliott Wave theory in his analysis. The theory is that assets tend to have five-wave rallies, with wave three being the longest and strongest.
Blunts says:
“We expect BTC to hit all-time highs in the next week or two.
From a macro perspective, I think we are currently in wave 5 of 3 larger waves and have several legs higher to come.
Ultimately, we expect it to be above $120,000 this cycle.”
Looking at the trader’s chart, he seems to be predicting that BTC will rise from current levels to $90,000 before the fourth correction will see it fall back to $80,000. Following the wave 4 retracement, Bluntz expects BTC to explode to $120,000 in the fifth and final wave.
As of this writing, Bitcoin is trading at $66,836, up more than 2% in the last 24 hours.
Bluntz also has his radar fixed on Ethereum (ETH) competitor Near (NEAR). NEAR appears poised for an uptrend after completing an ABC corrective wave, according to a top analyst.
“It looks almost cool here, it was one of the strongest moves off the low and will probably be one of the first to make a new high.”
Based on the trader charts, he seems to be predicting that NEAR will rise to $12. As of this writing, NEAR is valued at $7.02, up more than 9% in the past day.
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