Bitcoin's bullish trend still stands out as a live topic among the crypto community.
Many analysts make various predictions about Bitcoin's future price potential.
Famous cryptocurrency analyst Bluntz believes that Bitcoin could reach new highs in early 2025. Bluntz has a large following on social media platform His analysis, based on Elliott Wave theory, shows that Bitcoin still has significant upside potential.
Bluntz's technical chart analysis reveals that Bitcoin has just completed the fourth wave of a classic five-wave pattern on the weekly time frame. This theory predicts asset price movements during an uptrend in a structured five-wave pattern, signaling that the fifth wave is not yet complete. The final wave starting in late 2022 could push Bitcoin's price to almost $100,000, further confirming the analyst's long-term bullish stance.
Another point worth noting in Bluntz's analysis is the detection of a rising divergence signal on Bitcoin's daily trading chart. This divergence often heralds an upward trend reversal; It is characterized by the price moving downwards at a time when the Relative Strength Index (RSI) is in an upward trend. Divergence indicates the potential for a transition from the current downtrend to an uptrend and supports the overall uptrend.
While Bluntz's rising divergence analysis does not currently attract major attention in the crypto community, he notes that this important indicator is becoming less discussed as traders' confidence fades. However, as awareness increases, this may lead to an increase in investor interest and therefore movements in the price of Bitcoin.
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