Prominent cryptocurrency analyst and trader Bluntz has publicly expressed his latest insights on Bitcoin‘s and certain altcoins’ trajectories through a social media post. He begins with Bitcoin’s prospects, suggesting a substantial rally is on the horizon, provided it crosses the pivotal $69,000 resistance level. Despite Bitcoin’s recent 14% dip from its peak, Bluntz remains bullish, predicting a swift and significant ascent in its value.
Bitcoin Nears Breakthrough Point
Bluntz’s confidence in Bitcoin is undeterred by its recent pullback, as he envisions a fast recovery and an imminent parabolic increase. At the time of his analysis, Bitcoin was trading at $67,441, having already bounced back from a correction earlier in the month, showing a modest yet positive growth of 0.92% in a day.
Keeping an Eye on Promising Altcoins
Turning his analysis to the altcoin market, Bluntz put a spotlight on Solana (SOL), currently the fourth-largest altcoin in terms of market capitalization. He anticipates Solana’s value to climb steadily, observing that it has nearly completed a bullish five-wave pattern on its daily chart, hinting at a potential surge toward the $200 mark.
Moreover, Bluntz points out the promising signs for the SOL/BTC trading pair, noting the end of a three-wave bearish trend on the daily chart, which could signal the resurgence of its primary uptrend.
The analyst concludes with an evaluation of the decentralized finance (DeFi) platform Sei (SEI), identifying a significant reversal at the 0.618 Fibonacci retracement level. This pattern indicates a strong likelihood of an impending major uptrend, with Fibonacci levels historically serving as reliable indicators of price action.