Bitcoin Primed for New All-Time High After Correction, According to Trader Who Nailed 2018 BTC Bottom – Here’s His Target

A Prominent Analyst Predicts Bitcoin’s Rise After Recent Correction

A well-known analyst and trader, who accurately predicted the bottom for Bitcoin (BTC) back in 2018, has shared insights on the current state of the crypto market. Going by the pseudonym Bluntz, the analyst has a substantial following on the social media platform X and recently made some interesting observations.

Bluntz believes that Bitcoin is poised for a bullish trend after a recent correction that saw the price drop below $116,000. According to his analysis, Bitcoin has completed an ABC correction and is now eyeing new all-time highs at $127,000.

Utilizing the Elliott Wave theory, which suggests that assets experience a new uptrend after completing a corrective phase, Bluntz is optimistic about Bitcoin’s future price action. As of the time of writing, Bitcoin is trading at $117,262.

Shifting focus to the Bonk (BONK) memecoin, Bluntz notes that it has shown resilience during Bitcoin’s correction. He suggests that BONK has completed a corrective pattern and is now on track to reach the $0.000044 price level.

Expressing confidence in BONK’s potential, Bluntz anticipates a “rage pump” for the memecoin in the near future. At the time of writing, BONK is trading at $0.000035.

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