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Analyst Says He’s ‘Pretty Confident’ All-Time High Run Starting for Bitcoin, Updates Outlook on Solana Rival – The Daily Hodl

24 August 2024
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A extensively adopted cryptocurrency analyst believes Bitcoin (BTC) is on the verge of rallying to contemporary document highs.

Pseudonymous analyst Bluntz tells his 270,000 followers on the social media platform X that he thinks Bitcoin has began a contemporary five-wave surge that would propel BTC to a brand new all-time excessive after taking out resistance at $62,000.

The dealer practices the Elliott Wave idea, which states {that a} bullish asset typically witnesses a five-wave upside transfer earlier than a major correction.

Says Bluntz,

“We acquired the breakout, fairly assured that is the all-time excessive run beginning now.”

Supply: Bluntz/X

Based mostly on the pseudonymous analyst’s chart, it seems that Bluntz is suggesting that Bitcoin may go as much as a value of $84,000 in a collection of waves by mid-September.

At time of writing, Bitcoin is buying and selling for $63,888, up over 5% up to now day.

Taking a look at Solana (SOL) competitor Sei, the analyst believes SEI is about to erupt towards Bitcoin and the US greenback.

“I believe SEI is about to tear.

SEI/BTC pair has a weekly bull div. SEI/USD pair has a transparent five-wave rise from the lows and already had a pleasant pullback AND heavy unfavorable funding.”

Image
Supply: Bluntz/X

A bullish divergence happens when the value of an asset types decrease lows whereas printing larger lows on a momentum oscillator such because the relative energy index (RSI). Based mostly on the dealer’s chart, he appears to foretell that SEI will rally near $0.40.

SEI is buying and selling at $0.338 at time of writing, up over 18% on the day.

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Disclaimer: Opinions expressed at The Each day Hodl aren’t funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any losses you could incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please notice that The Each day Hodl participates in affiliate internet marketing.

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Tags: AllTimeAnalystBitcoinconfidentDailyHeshighHodlOutlookPrettyRivalRunSolanaStartingUpdates
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