The cryptocurrency market has entered a downward trajectory with the leading crypto Bitcoin falling below $ 70,000. Meme coins such as Dogecoin, which have made strong runs in recent days, are witnessing sharp declines this time. However, an analyst with a large following remains bullish on Bitcoin and Dogecoin. The analyst is also bullish on a Solana-based altcoin.
Bluntz sees the God Candle in PYTH!
As you follow from Kriptokoin.com, the cryptocurrency market has now moved to the landing stage of the rollercoaster ride. Along with Bitcoin, altcoins are also moving deeper into the red zone. However, analysts maintain bullish expectations for further ahead. A popular analyst nicknamed Bluntz says that the Solana-based Pyth Network (PYTH) is ready for a strong bullish move. In this context, the analyst makes the following statement:
God is loading candles on PYTH. Perfectly rounded bottom with three months of accumulation. 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. Solana beta is about to start getting some love again, in my opinion.
Meanwhile, PYTH was trading at $0.3668 at the time of writing, down about 9% on a daily basis. The cryptocurrency remained unchanged on the weekly chart. However, it saw an increase of about 10 per cent on a monthly basis.
Analyst believes in DOGE!
Bluntz then continues with the popular meme coin Dogecoin (DOGE). The analyst says DOGE has enjoyed an accumulation period of over two years. He also states that it 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, with a loss of about 7% on a daily basis.
Analyst predicts a new ATH for the leading cryptocurrency!
Bluntz regularly uses Elliott Wave theory in his technical analyses. 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 occurs in a three-wave pattern. Lastly, the analyst looks at the leading cryptocurrency Bitcoin . The analyst says that Bitcoin ‘should go higher’ after undergoing a short correction in a three-wave pattern. 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. Accordingly, the analyst shares the following comment:
I see a lot of election volatility fear messages, and I don’t think the fear is unfounded, but I think election volatility will raise its head higher.
Meanwhile, 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 the weekly chart.
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