Crypto Expert Who Accurately Predicted Bitcoin’s 2018 Bottom Suggests Impending Breakout for Ethereum-Based Altcoin
An influential crypto strategist, operating under the pseudonym Bluntz, anticipates a potential breakout for Chainlink (LINK), a mid-cap altcoin, against Bitcoin (BTC), Ethereum (ETH), and the US dollar (USD).
Bluntz highlights the formation of a bullish continuation pattern across all three pairs within the decentralized oracle network Chainlink. Notably, LINK’s price action stands out amidst a relatively stagnant cryptocurrency market. Emphasizing the promising outlook, Bluntz identifies a potential bull flag breakout on the USD, BTC, and ETH pairs. Currently valued at $7.44, Chainlink is on the cusp of touching the trader’s diagonal resistance on the USD pair.
The analyst also revises his perspective on Ethereum, drawing parallels to Bitcoin’s early 2019 market structure, which led to a substantial rally following a breakout from an ascending triangle pattern. Bluntz suggests that Ethereum could experience a parabolic surge upon surpassing the resistance at $2,050. Anticipating a significant impact, he envisions the breakthrough moment as a catalyst, leading to notable price movement and possibly marking a bottom for the ETH/BTC pair.
Clever Robot News Desk 10th August 2023
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