A widely followed analyst and trader who accurately predicted the bottom for Bitcoin (BTC) in 2018 says the crypto king is primed to go higher after a recent correction.
The trader and analyst pseudonymously known as Bluntz tells his 326,100 followers on the social media platform X that Bitcoin is likely done correcting after falling below the $116,000 price level.
“Send it.”
Looking at the trader’s chart, he seems to suggest that Bitcoin’s ABC correction is done and BTC is now targeting new all-time highs at $127,000.
Bluntz follows the Elliott Wave theory, which states that a bullish asset tends to witness a new uptrend after completing an ABC correction.
Bitcoin is trading at $117,262 at time of writing.
Next up is the Bonk (BONK) memecoin. According to the widely followed analyst, BONK is “holding up remarkably well” amid a Bitcoin correction.
Bluntz suggests BONK has completed an ABC-wave pattern to the downside and is now poised to hit the $0.000044 price area.
“Not only does BONK look like a nice clear ABC has already been put in, but it held strong and defended the lows while BTC dumped…
I suspect a rage pump is imminent on BONK.”
BONK is trading at $0.000035 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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