Will Bitcoin Reach $84,000 in September? Renowned Analyst Shares Insights with Charts!
#Bitcoin surged to $65,000 in futures trading, marking a high not seen in a long time, and later stabilized above $64,000 in the spot market. This price movement was heavily influenced by recent statements from the Federal Reserve, which hinted at a potential rate cut, driving the BTC price upward. This rally also positively impacted the broader market. So, what are market analysts saying now?
Bluntz, a well-known analyst, shared with his thousands of followers on X (formerly Twitter) that Bitcoin's recent breakthrough of the $62,000 resistance could signal the start of a new five-wave rally, potentially leading BTC to a new all-time high.
Using Elliott Wave theory, which predicts that bullish trends often follow a five-wave upward pattern before significant corrections, Bluntz expressed confidence: "Weâve broken out; now, we're quite certain weâll reach a new all-time high."
According to Bluntz's analysis, #Bitcoin could hit $84,000 by mid-September if the predicted movements continue. At the time of writing, Bitcoin remains strong around the $64,000 mark, having gained over 5% in the last 24 hours, a rise thought to be largely driven by Fed Chair Powell's announcement of a possible rate cut.
The analyst also commented on Solanaâs (SOL) competitor Sei, predicting a significant rise for SEI against both Bitcoin and the US dollar. "I believe #SEI is on the brink of a major breakout. The SEI/BTC pair shows a bullish trend on the weekly chart. SEI/USD has completed a clear five-wave rally from its lows and has already seen a solid pullback alongside heavy negative funding.
