Bitcoin Primed for New All-Time High After Correction, According to Trader Who Nailed 2018 BTC Bottom – Here’s His Target

A widely followed analyst and trader who accurately predicted the bottom for Bitcoin (BTC) in 2018 says the crypto king is primed to go higher after a recent correction.

The trader and analyst pseudonymously known as Bluntz tells his 326,100 followers on the social media platform X that Bitcoin is likely done correcting after falling below the $116,000 price level.

“Send it.”

Source: Bluntz/X

Looking at the trader’s chart, he seems to suggest that Bitcoin’s ABC correction is done and BTC is now targeting new all-time highs at $127,000.

Bluntz follows the Elliott Wave theory, which states that a bullish asset tends to witness a new uptrend after completing an ABC correction.

Bitcoin is trading at $117,262 at time of writing.

Next up is the Bonk (BONK) memecoin. According to the widely followed analyst, BONK is “holding up remarkably well” amid a Bitcoin correction.

Bluntz suggests BONK has completed an ABC-wave pattern to the downside and is now poised to hit the $0.000044 price area.

“Not only does BONK look like a nice clear ABC has already been put in, but it held strong and defended the lows while BTC dumped…

I suspect a rage pump is imminent on BONK.”

Source: Bluntz/X

BONK is trading at $0.000035 at time of writing.

Generated Image: Midjourney