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Famous crypto analyst and trader Bluntz recently shared his latest observations on primarily Bitcoin (BTC) and two significant altcoins. The analyst posted his observations on his personal account on social media platform X.
Bitcoin’s Optimism Intact: Anticipating a Parabolic Surge
Starting his assessment with Bitcoin, Bluntz mentioned that the largest cryptocurrency is primed for a significant rally once it surpasses the critical resistance level around $69,000. Despite a 14% pullback from its all-time high (around $69,200), the analyst maintains his optimism for Bitcoin’s trajectory, foreseeing a parabolic rise in the short term.
With current data, BTC has quickly recovered after its correction on March 5th, trading at $67,441 with a 0.92% increase over the last 24 hours at the time this article was prepared.
Altcoins on the Analyst’s Watchlist
Following Bitcoin, Bluntz turned his attention to Solana (SOL), the fourth-largest altcoin by market value, predicting an upward movement soon. In his analysis of the SOL/USD trading pair, he noted that SOL has completed four waves of a five-wave upward movement on the daily timeframe, potentially rising towards the $200 level.
Bluntz also emphasized the potential for upward momentum in the SOL/BTC trading pair, indicating that SOL/BTC has completed a three-wave downward formation on the daily timeframe and signaling the potential restart of the main uptrend.
Lastly, the analyst analyzed the decentralized finance (DeFi) platform Sei (SEI). Bluntz detected a strong reversal at the 0.618 Fibonacci retracement level for the altcoin, which he mentioned could signal a serious uptrend in the future. Fibonacci retracement levels, considered to represent natural support and resistance levels, provide significant technical insight into potential price movements.
