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The Trader Who Successfully Predicted the Price of Bitcoin Spoke: "2020 Could Be Repeated!"
Bluntz, who is known for correctly predicting the bottom of Bitcoin's 2018 low, thinks BTC could repeat the price action of 2020 in the next few weeks. BTC fell from a $10,000 price tag to $4,000 in 2020.
Bluntz believes that a similar decline in the current market dynamics has formed a cycle bottom at the $15,000 levels. The analyst also highlighted two critical levels, noting that a decline towards around $19,000 could be ahead of a bull market that he believes will start next year.
Bluntz, who is known for correctly predicting the bottom of Bitcoin's 2018 low, thinks BTC could repeat the price action of 2020 in the next few weeks. BTC fell from a $10,000 price tag to $4,000 in 2020.
Bluntz believes that a similar decline in the current market dynamics has formed a cycle bottom at the $15,000 levels. The analyst also highlighted two critical levels, noting that a decline towards around $19,000 could be ahead of a bull market that he believes will start next year.
STORY CONTINUES BELOW
Bluntz also noted that he is closely watching the TOTAL chart, which tracks the market capitalization of all crypto assets. According to the trader, TOTAL looks set to witness another leg after completing an ABC bounce and printing a bearish lower-high setup.
Bluntz uses the Elliott Wave theory in his analysis. The Elliott Wave theory is an approach to technical analysis that attempts to predict future price movements by following crowd psychology that tends to occur in waves. According to the theory, a bearish asset can go through an upward ABC movement before resuming the downtrend.
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