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Home»ALTCOIN NEWS»Top trader predicts a final decline for Bitcoin (BTC) before hitting a new all-time high. His goals are:
ALTCOIN NEWS

Top trader predicts a final decline for Bitcoin (BTC) before hitting a new all-time high. His goals are:

By Crypto FlexsJune 12, 20242 Mins Read
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Top trader predicts a final decline for Bitcoin (BTC) before hitting a new all-time high.  His goals are:
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A cryptocurrency analyst known for making timely Bitcoin calls believes that BTC is set to make a final correction before exploding to new record highs.

pseudonymous analyst Bluntz told his 261,200 followers on social media platform X that Bitcoin appears to be forming a bull pennant pattern on the three-day chart.

According to analysts, BTC could see a decline close to $60,000 to set the stage for a rally above $80,000.

“At the moment, we are leaning toward some degree of BTC consolidation.

I think it makes the most sense, but what’s more worrying is that Alts are collapsing and BTC has barely even sneezed at it so far.

For BTC, a drop of just 12% to $62,500 could be catastrophic for some other alternatives.”

Source: Bluntz/X

Looking at the trader’s chart, he seems to be predicting that Bitcoin will rally close to $87,500 by the end of the year. As of this writing, the value of Bitcoin is $67,315, down more than 3% over the past day.

Crypto strategists are also closely watching Memecoin Dogwifhat (WIF). The analyst said WIF is likely to trend lower and collapse to $1.

video
Source: Bluntz/X

Bluntz practices Elliott Wave theory, a technical analysis approach that states that bullish assets tend to witness ABC corrections after completing a five-wave rally. According to the trader’s chart, he seems to be suggesting that WIF has already completed a five-wave surge when it approaches $5. The chart shows WIF falling to $1.068 to end the ABC correction.

As of this writing, WIF is worth $2.54.

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