Top Crypto Analyst Who Accurately Predicted 2018 Bitcoin Bottom Says Ethereum Low Is In – Here’s His Outlook
A crypto analyst who nailed Bitcoin’s 2018 bottom six months in advance is turning bullish on Ethereum (ETH). The analyst pseudonymously known as Bluntz tells his 273,300 followers on the social media platform X that the low for Ethereum is potentially in now that ETH tagged its lowest level in six months in August. According to the trader, Ethereum is now on the verge of reclaiming a range with an upper boundary at around $2,850. Bluntz further says that Ethereum is exhibiting bullish divergence on the three-day time frame when paired with Bitcoin (BTC). A bullish divergence occurs when the price of an asset records lower highs while a momentum oscillator such as the Relative Strength Index (RSI) witnesses higher lows. Using Elliot Wave theory, it appears Bluntz is suggesting that Ethereum is forming a five-wave pattern on the four-hour time frame. Elliott Wave theory states that the main trend of an asset moves in a five-wave pattern while a correction occurs ...