Analyst says he is ‘absolutely confident’ that Bitcoin will hit an all-time high, updates his predictions for Solana rival

A widely followed cryptocurrency analyst believes that Bitcoin (Bitcoin) is about to rise to new record highs.

Anonymous analyst Blontz tells his 270,000 followers on social media platform X that he believes Bitcoin has started a new five-wave rally that could push BTC to a new all-time high after overcoming resistance at $62,000.

The trader practices the Elliott Wave Theory, which states that bullish assets often experience a five-wave upward movement before a major correction.

Blunts says,

“We have made the breakout, and we are very confident that this is an all-time high starting now.”

Based on the chart provided by the pseudonymous analyst, Blontz appears to be suggesting that Bitcoin could hit $84,000 in a series of waves by mid-September.

At the time of writing, Bitcoin is trading at $63,888, up over 5% from the previous day.

Looking at Solana (Sol) The competitor is bad, the analyst believes. He is About to explode against Bitcoin and the US dollar.

“I think SEI is about to be torn apart.

“SEI/BTC is seeing a bullish weekly decline. SEI/USD is seeing a clear 5 wave rally from the lows and has already seen a nice pullback and significant negative funding.”

A bullish divergence occurs when the price of an asset makes lower lows while making higher lows on a momentum oscillator such as the Relative Strength Index (RSI). Based on the trader’s chart, it appears that he expects the SEI to rise to around $0.40.

SEI stock is trading at $0.338 at the time of writing, up over 18% on the day.

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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should conduct their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and trades are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.

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