Solana

Bitcoin

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 <p>A widely followed crypto trader who accurately predicted the bottom for Bitcoin (BTC) in 2018 is expressing bullish sentiment on the flagship crypto asset.</p>
 <p>Pseudonymous analyst Bluntz tells his 227,200 followers on the social media platform X that Bitcoin appears to be “on the cusp of breaking out” after consolidating for a fortnight.</p>
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 <p>Bluntz utilizes the Elliott Wave theory in his technical <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/analysis.html">Analysis</a>. According to the trader’s charts, Bluntz predicts the price of Bitcoin could hit an initial target of $38,000 before eventually reaching $42,000 in a series of waves.</p>
 <p>The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while the correction happens in a three-wave pattern.</p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img src="https://cdn.thebittimes.com/images/2023/11/09/c4af8254fe4e81722de1b5a9ba856eee.webp" alt="" width="1024" height="https://cdn.thebittimes.com/images/2023/11/09/39a6eec282f7211209e03af6d90b214f.webp">
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   Source: Bluntz/X
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 <p>Bitcoin is trading at $35,350 at time of writing, up by around 30% since mid-October.</p>
 <p>Turning to the seventh-largest crypto asset by market cap, Bluntz says the decentralized application platform Solana (SOL) has stalled after previously breaking out of a descending channel following significant accumulation.</p>
 <p>According to the analyst, Solana could trade in a range for a while before turning to the upside. Bluntz’s initial target is a little over 10% up from the current price.</p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img src="https://cdn.thebittimes.com/images/2023/11/09/bc883d2130919341c3463233c6a205ce.webp" alt="" width="1024" height="https://cdn.thebittimes.com/images/2023/11/09/53c3bd40a632f91c27907e462887c876.webp">
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   Source: Bluntz/X
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 <p>SOL is worth $43.23 at time of writing, up by over 100% since mid-October.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/analyst-who-nailed-bitcoin-2018-bottom-says-btc-on-cusp-of-breaking-out-here-are-his-targets-tbt69619.html">https://thebittimes.com/analyst-who-nailed-bitcoin-2018-bottom-says-btc-on-cusp-of-breaking-out-here-are-his-targets-tbt69619.html</a></p>

Analyst Who Nailed Bitcoin 2018 Bottom Says BTC on Cusp of Breaking Out – Here Are His Targets

TheBitTimes

Other articles published on Nov 9, 2023

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