Major Altcoin Set for a Bullish Breakout: Analyst Who Predicted 2018 BTC Bottom Shares Insights

Bullish Predictions from a Trusted Analyst

A prominent analyst known for accurately predicting the 2018 Bitcoin (BTC) bottom is expressing bullish sentiment regarding BNB, a top-10 cryptocurrency by market cap.

The analyst, pseudonymously known as Bluntz, recently informed his 269,700 followers on X about the bullish-looking chart for BNB on a weekly time frame. He suggests that this fourth-largest crypto asset could potentially rise by 72% from its current level in the near future.

“Consolidation under prior all-time with a sweep of both the top of the range and bottom of the range and has now reclaimed it. These setups are tier-one setups in my opinion and we’ve been handed one on an extremely high time frame. Legit what dreams are made of in my opinion, $1000 soon.”

At the time of writing, BNB is trading at $583, approximately 18% below its all-time high of $717 reached in early June.

Bitcoin’s Consolidation Phase

Bluntz also provided insights on Bitcoin, indicating that its choppy consolidation phase over the past two weeks is nearing an end. He noted:

“Bitcoin bears had their chance but we’re tapping resistance at around $62,096 too many times now, I think a breakout is near.”

According to Bluntz's analysis, Bitcoin is forming an inverse head and shoulders pattern on the four-hour time frame, which is usually seen as a bullish reversal pattern. At the time of writing, Bitcoin is trading at $60,570.

Disclaimer

Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets.