Bitcoin is poised for a massive breakout, according to a top analyst. Bluntz, who has achieved the “Master Trader” rank on Bybit, says that Bitcoin’s recent price action indicates a renewed bull market. He points out that Bitcoin has been experiencing shallower dips in the low time frame since reaching its low point in August. Bluntz believes that Bitcoin is forming a series of 1-2 Elliott Wave structures, which suggests an explosive upside move is on the horizon. The analyst notes that each wave two correction is becoming less severe, indicating a strong market. As long as Bitcoin stays above $65,300, Bluntz expects the cryptocurrency to consolidate below $68,000 before a powerful wave three rally kicks in. As of now, Bitcoin is trading at $66,979.
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Bitcoin Gearing Up for ‘Monstrous’ Breakout Amid Shallower Dips, Says Top Analyst – Here’s His Outlook
