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Home»ALTCOIN NEWS»Top trader updates outlook on Bitcoin and Saga, says Solana rivals will continue to slam after 60% gain in a week
ALTCOIN NEWS

Top trader updates outlook on Bitcoin and Saga, says Solana rivals will continue to slam after 60% gain in a week

By Crypto FlexsSeptember 20, 20243 Mins Read
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Top trader updates outlook on Bitcoin and Saga, says Solana rivals will continue to slam after 60% gain in a week
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The popular cryptocurrency analyst and trader is bullish on Solana (SOL)’s competitors, while also giving his outlook on Bitcoin and layer 1 blockchain Saga (SAGA).

The analyst, known by the pseudonym Blunts, told his 275,300 followers on social media platform X that Solana’s rival Sui (SUI) is set to surge after breaking above the upper boundary of an ascending channel on the 4-hour chart.

Blunts also said the breakthrough coincided with a surge in trading volume.

“SUI will continue to rip off a ton of money. I think it’s free money.

A slow crushing channel breakthrough of this volume almost always indicates that a strong thrust is underway.

Leaders continue to lead.”

Source: Bluntz/X

Based on the chart, Blunts seems to be predicting that SUI could surge above $2.40, which would be about 75% up from current levels.

As of this writing, Sui is trading at $1.37, up 58% from its low of $0.867 about a week ago.

Next up is Bitcoin (BTC). According to an anonymous analyst, Bitcoin could reach its cycle peak in late 2024 or early 2025.

Blunts predicted that Bitcoin is forming a five-wave pattern that will lead to a surge that could reach around $100,000.

According to Elliott Wave Theory, the main price trend of an asset moves in five waves, while corrections occur in three waves.

“Don’t miss the next BTC all-time high crash. This will be the last macro rally. You have 3-4 more months to make as much money as possible.”

video
Source: Bluntz/X

As of this writing, Bitcoin is trading at $62,706.

Next up is the native token of the Layer 1 blockchain, Saga (SAGA). Bluntz says SAGA is currently in a “bad” bullish setup, and the bullish thesis is supported by the fact that the project is backed by venture capitalists while having a relatively low market cap.

Based on Blunts’ chart, Saga appears to be forming an Inverted Head and Shoulders pattern on the daily chart. This is a bullish pattern that suggests sellers are tired and prices are unable to make lower lows.

video
Source: Bluintz/X

As of this writing, Saga is trading at $2.35.

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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 your responsibility and any losses you may incur are your 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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