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- 🎊 ETH Deposit & Trading Carnival Kicks Off!
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- 📢 ETH Heading for $4800? Have Your Say! Show Off on Gate Square & Win 0.1 ETH!
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- 🧠 #GateGiveaway# - Crypto Math Challenge！
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- 🎉 #Gate Alpha 3rd Points Carnival & ES Launchpool# Joint Promotion Task is Now Live!
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Analyst Who Predicted Bitcoin's Bottom in 2018 Speaks Again: Time to Buy Altcoins! - Coin Bulletin
The crypto strategist known by the pseudonym Bluntz stated to his 269,300 followers on the social media platform X that he believes Bitcoin has likely seen the bottom after completing the ABC correction move on the four-hour chart.
Bluntz is known as a successful practitioner of the Elliott Wave theory, which suggests that assets in an upward trend start a rally after completing a three-wave correction.
The analyst made the following comment about Bitcoin and Ethereum:
According to Bluntz's analysis, Bitcoin is expected to rise up to $68,000. At the time this news was written, Bitcoin is trading at $59,320, with an increase of %3.74 in the last 24 hours.
Another cryptocurrency that the analyst pointed out is the largest smart contract platform, Ethereum (ETH). Bluntz noted that Ethereum is trading within a rising triangle formation, which usually indicates a bullish signal.
Ascending triangle formation, characterized by higher lows and a horizontal upper trend line, represents a resistance level.
According to CoinGecko data, Ethereum, which has risen by 1% in the last 24 hours, is trading at $2,598 at the time of writing.