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A widely followed crypto analyst and trader is updating his forecast on three digital assets.
Starting with Bitcoin ($BTC), pseudonymous crypto strategist Bluntz tells his 244,800 followers on the social media platform X that the flagship crypto asset will rally significantly once it breaches the resistance level of around $69,000.
“$BTC already had a 14% pullback from that all-time high, the next attempt sends us parabolic in my opinion.”
Bitcoin is trading at $67,106 at time of writing, up by around 14% from its seven-day low of $59,000. Bitcoin plummeted to $59,000 hours after revisiting the all-time high level of $69,000.
Turning to the fifth-largest crypto asset by market cap, Bluntz says that an upward impulse for Solana ($SOL) feels “imminent”.
Based on the analyst’s chart of the Solana/US dollar pair, it appears that he is suggesting that the Ethereum (ETH) rival has completed four waves of an upward-facing five-wave bullish pattern on the daily chart and could go as high as $200.
According to the Elliott Wave theory, the main trend of the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.
Solana is trading at $142 at time of writing.
Concerning the Solana/Bitcoin pair, it appears that the analyst is suggesting that $SOL/$BTC has completed a downward-facing three-wave pattern on the daily chart and is now about to resume the main upward trend.
Solana is trading at 0.00212200 $BTC at time of writing.
Next up is decentralized finance (DeFi) platform Sei ($SEI). Bluntz says that $SEI has demonstrated a strong reversal at the 0.618 Fibonacci retracement level, signifying a potential bullish move ahead.
Fibonacci retracements are thought to represent natural resistance and support levels with some of the most commonly used ones being 0.382, 0.5 and 0.618.
$SEI is trading at $0.809 at time of writing.
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