One of the most respected cryptocurrency traders and analysts has expressed a bearish outlook on digital assets in general.
Bluntz, a trader who uses a pseudonym. tells The crypto-assets space will likely experience a boom in the near future, according to his 266,600 social media followers. “minimum two weeks of broader market downturn.”
This trader has a large following. says Bluntz has stated that his trading bias will be primarily stablecoins in the coming weeks. Bluntz says that he will be trading primarily stablecoins in the next few weeks.
“No longs for the next few weeks for me where I’ll re-evaluate afterwards.”
Bitcoin (BTC() the pseudonymous expert says The flagship cryptocurrency asset will likely trend down in rough movements. “another two weeks or so.” Bluntz says that Bitcoin may bottom at around $60,000. Then, it will begin to move upwards.
According to Bluntz’s chart for the hourly timeframe, the analyst appears to be suggesting that Bitcoin may eventually reach a new high of $82,000. This is around 27% higher than the current price.
Bitcoin currently trades at $64,705.
Solana is next (SOL). The analyst who uses the Elliott Wave Theory in his analysis is a pseudonymous one. says Solana’s three-wave upward pattern against the US dollar as well as Bitcoin is complete and it appears that the pair will now be heading lower. Elliott Waves theory states that the primary trend for an asset’s price moves in five waves, while corrections occur in three.
“…it’s not awe-inspiring for the broader market when a former bull-run leader looks like this.”
Solana has risen by 60% since July, reaching a high of $193 in two months. It is currently trading at $170.
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