[Top analysts say Bitcoin (BTC) will usher in the "maximum pain" scenario, predicting a parabolic rebound for gold]
Well-known analyst Bluntz warned his 254,100 followers on the X platform that Bitcoin (BTC) may be facing a tough time. He analyzed that Bitcoin’s daily chart shows an ABC correction trend, which is a pattern of asset consolidation following a five-wave upward trend in the Elliott wave theory.
Bluntz predicted that Bitcoin could initially rise to $76,000 before falling back to $64,000 before climbing to a new high of $82,000. Currently, Bitcoin is trading at around $69,296, down nearly 4% in the past 24 hours.
As for gold, Bluntz believes it is in the midst of a five-wave rising cycle that could push prices above $3,600, surpassing the inflation levels of the past decade. Currently, the price of gold is $2,352.
Additionally, Bluntz also mentioned Solana’s trading pair against Bitcoin (SOL/BTC), suggesting that SOL/BTC may have found a bottom at around 0.00246 BTC ($170) after completing the ABC corrective wave.
