Expert Predicts Continued Bitcoin Surge, Details Duration of Bull Market
The cryptocurrency analyst and trader known as Bluntz, followed by 264,700 on X, remains optimistic about Bitcoin’s future prospects.
Bluntz asserts that the current Bitcoin cycle is still ongoing, suggesting potential upside well into early 2025. Utilizing Elliott Wave theory in technical analysis, Bluntz indicates that Bitcoin recently completed the fourth wave of a five-wave pattern on the weekly chart.
The analysis projects a continuation towards completing the fifth wave. Which began in late 2022 around $100,000. Bitcoin is currently priced at $58,665. Additionally, Bluntz highlights a bullish divergence signal on the daily chart, indicating a potential trend reversal, though noting surprise at its under-discussion in the community.
Clever Robot News Desk 12nd July 2024
