A Bybit strategist, Bitcoin 
$67,068He suggested that it was about to enter a rising market again. Anonymous analyst Bluntz, who has the title of “Master Trader”, stated that he predicts an explosive rise in Bitcoin price.
Bitcoin Technical Analysis and Elliott Wave Theory
Bluntz drew attention to the recent price movements of Bitcoin in the analysis he shared on the social media platform X. According to the analyst, Bitcoin has formed 1-2 Elliott Wave structures, indicating that the BTC price is ready for an explosive rise. Bluntz specifically stated that “wave two is becoming increasingly shallow” and that this signals Bitcoin to make a big upward move like the third wave.
According to Bluntz’s analysis, Bitcoin’s price movements form a series of Elliott Wave structures, with wave two periods ending shorter and shorter. The analyst noted that once Bitcoin’s current price movements find support at $65,300, he expects BTC to consolidate below $68,000 and then enter a major bullish wave. Bluntz said that in this case, Bitcoin may experience a high increase in the coming weeks.
According to Elliott Wave Theory, a bullish asset experiences a five-wave increase, with the third wave being the strongest move in this structure. For this reason, Bluntz stated that Bitcoin is moving towards a third wave rise in accordance with this theory.
Expectations About the Future of Bitcoin
Bitcoin continues to trade at $66,979. According to Bluntz’s prediction, if Bitcoin manages to stay above $65,300, this important support level could be the trigger for BTC’s third wave rise. Investors are trying to determine their strategies by closely monitoring this potential movement.
Technical indicators in the Bitcoin market and Bluntz’s analysis shed light on possible future price movements. However, as always, due to the volatile nature of market conditions, investors should exercise caution and consider potential risks. Bitcoin maintaining critical resistance levels could pave the way for future upward movements.
While these latest analyzes about the Bitcoin market give hope for bullish prospects, it is important for investors to be careful and monitor market movements closely. Do you think this rise will happen, or will we see an unexpected retreat in the market?
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
