Bitcoin Primed To Hit New All-Time High in Next Leg Up, According to Crypto Analyst – Here’s His Target

A broadly adopted cryptocurrency analyst and dealer is leaning bullishly on Bitcoin (BTC).

The analyst and dealer pseudonymously referred to as Bluntz tells In response to its 309,200 followers on social media platform

In response to the analyst, Bitcoin is poised to rise by not less than 17% from present ranges.

“Take the lows, let everybody capitulate after which simply rise with out dips, forcing sidelined merchants and traders to chase the worth greater.

This subsequent step up, in my view, needs to be the one which takes us to $120,000+.”

Based mostly on a chart from the pseudonymous analyst who commonly applies Elliott Wave principle in his technical evaluation, Bitcoin is within the latter a part of a five-wave sample that started in September 2024. The Elliott Wave Principle states that the primary pattern of an asset’s worth strikes in a five-wave sample, whereas a correction happens in a three-wave sample.

Bitcoin is buying and selling at $102,580 on the time of writing.

The analyst additionally provides his opinion on the memecoin FLOKI (FLOKI). According to based on Bluntz, FLOKI is forming a double backside sample on the three-day timeframe. A double backside sample is often thought-about a bullish reversal sample.

FLOKI is buying and selling at $0.000179 on the time of writing.

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Generated picture: Midjourney