Renowned crypto analyst and strategist Bluntz, who gained recognition for his accurate prediction of Bitcoin’s (BTC) downfall in 2018, has his eyes set on three altcoins. Here are those altcoins on his radar.
Altcoins on the Analyst’s Radar
The anonymous crypto analyst, Bluntz, believes that the Blockchain indexing protocol, The Graph (GRT), mirrors the price movement of Bitcoin when it rose from $17,000 to over $30,000 earlier this year. According to Bluntz, GRT has exited the rising channel and appears ready for a rally towards a $0.135 target:
“There was a lovely channel break in GRT after a slow climb. The last time I saw this exact structure/pattern, BTC had broken $17,000 before it rose to $31,000. I love this model. I’m expecting a strong rise in GRT.”
Following GRT, Bluntz has turned his attention to the decentralized machine learning network Fetch.ai (FET), believing that the altcoin entered a bullish phase after bouncing from a point close to the 0.786 Fibonacci level:
“There’s a strong reaction in FET’s daily chart. The inner left curve monkey in me wonders if it can catch some of the hype in AI stocks.”
Expecting a Surge in Litecoin
The last altcoin on the analyst’s radar is the peer-to-peer payment network, Litecoin (LTC). Bluntz thinks that Litecoin, after holding above the 0.618 Fibonacci level as support, is advancing towards $100:
“LTC received a nice reaction from the 0.618 Fibonacci level. I think our next stop will be the resistance at $100, and we’ll reassess when we get there.”
Bluntz also indicated that despite the crypto market showing signs of bullishness, he believes many investors are currently sitting on the sidelines, stating, “It’s interesting to see the crypto market rising/gradually falling after such a long crab market, and there’s so little enthusiasm in my social media timeline. The conclusion I draw from this is that it seems like many people have stepped aside.”
