The cryptocurrency market entered a downward trajectory with the leading crypto Bitcoin falling below $70,000. Meme coins like Dogecoin, which has been running strong in recent days, are witnessing sharp declines this time. However, one analyst with a large following remains bullish on Bitcoin and Dogecoin. Additionally, the analyst is bullish on the Solana-based altcoin.
Bluntz sees the God Candle in PYTH!
As you follow from Kriptokoin.com, the cryptocurrency market is now on the descent stage of its rollercoaster ride. Along with Bitcoin, altcoins are also moving deeper into the red zone. However, analysts maintain bullish expectations for the future. A popular analyst nicknamed Bluntz says Solana-based Pyth Network (PYTH) is poised for a strong bullish move. In this context, the analyst makes the following statement:
God puts candles on PYTH. Perfectly rounded bottom with three months of savings. It is currently flirting with the final boss in terms of accumulation resistance [just below the $0.50 price], and once it clears, we have clear skies ahead. I think Solana beta is about to start getting some love again.
Source: BluntzMeanwhile, PYTH was trading at $0.3668 at the time of writing, down approximately 9% on a daily basis. There was no change in the weekly chart of the cryptocurrency. However, it saw a monthly increase of around 10%.
Analyst believes in DOGE!
Bluntz then follows up with the popular meme coin Dogecoin (DOGE). The analyst says DOGE has enjoyed an accumulation period of over two years. He also states that he is now ready to go higher. In this context, the analyst said, “Many people will prefer to sell DOGE very early despite entering at these low levels. This is a result of 874 days of accumulation. Renew your brain, believe in something.” he says. Meanwhile, Dogecoin was trading at $0.1588 at the time of writing, down around 7% on a daily basis.
Source: BluntzAnalyst predicts a new ATH for the leading cryptocurrency!
Bluntz regularly uses Elliott Wave theory in his technical analysis. Elliott Wave theory says that the main trend of an asset’s price moves in a five-wave pattern. It also suggests that the correction is occurring in a three-wave pattern. Finally, the analyst looks at the leading cryptocurrency Bitcoin. The analyst says Bitcoin “should move higher” after undergoing a brief correction in a three-wave formation. According to his chart, Bluntz suggests that Bitcoin will reach just below $80,000, which will be the new ATH price, in the first few days of November. In this regard, the analyst shares the following comment:
I see a lot of messages of fear of election swings, and I don’t think the fear is unfounded. However, I think electoral volatility will rear its head higher.
Source: BluntzMeanwhile, Bitcoin was trading at $69,780 at the time of writing, down 3.78% on a daily basis. However, the cryptocurrency is still up over 32% on its weekly chart.
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