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In 2018, Bluntz, who accurately predicted Bitcoin’s (BTC) bottom and is closely followed in the cryptocurrency market, forecasted a rise for BNB (BNB), which is among the top 10 cryptocurrencies by market value. The analyst shared target levels for the altcoin.
Details of the Expected 72% Rise in BNB
The cryptocurrency analyst, known as Bluntz, stated on social media platform X that BNB’s weekly timeframe chart looks extremely positive. According to the analyst, the altcoin, which ranks fourth in market value, could rise by approximately 72% from its current level.
Bluntz said, “There was a consolidation below the all-time high. Both the top and bottom of the range were swept and now regained. These types of setups, in my view, are first-class setups and we have been given such an opportunity on an extremely high timeframe. I think these are dream opportunities and we will see a thousand dollars soon.”
At the time of writing, BNB is trading at $583, which is about 18% below the all-time high of $717 reached in early June.
Expects Bitcoin to Rise After Consolidation Phase
After BNB, Bluntz analyzed Bitcoin (BTC) and believes that the largest cryptocurrency’s two-week-long volatile consolidation phase will soon end. The analyst said, “Bitcoin bears were given a chance but we tested the resistance point (around $62,096) too much and I think a breakout is near.”
According to the chart drawn by Bluntz, the analyst noted that an inverse head and shoulders pattern has formed on Bitcoin’s four-hour timeframe. The inverse head and shoulders pattern is generally considered a bullish reversal pattern.
