A closely followed analyst believes that Bitcoin (BTC) will likely see a new all-time high in the next two weeks.
Pseudonymous analyst Bluntz tells his 256,600 followers on the social media platform X that Bitcoin is in the midst of a wave three surge.
Bluntz utilizes the Elliott Wave theory in his analysis. The theory states that an asset tends to witness a five-wave rally with wave three being the longest and the strongest move up.
Says Bluntz,
“Expecting fresh BTC all-time high within the next one to two weeks.
From a macro standpoint, I think we’re currently in a wave five of a larger wave three with a few legs higher still to come.
Ultimately expecting us to top out around $120,000 this cycle.”
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