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A popular crypto strategist thinks an altcoin in the decentralized finance (DeFi) space looks strong against the US dollar and Bitcoin (BTC). Pseudonymous analyst Bluntz tells his 308,500 followers on the social media platform X that DeFi lending platform Aave (AAVE) is flashing multiple bullish signs on the eight-hour chart. “AAVE [is] one of my favorite looking alts here, clear ABC down on the eight-hour chart, clear five waves within the C wave AND a cracking eight-hour bullish divergence brewing. T1 (tier-one) setup in my opinion.”  Source: Bluntz/X Bluntz follows the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave surge after completing an ABC correction. Based on the trader’s chart, he seems to suggest that AAVE has completed the ABC retracement with a bullish divergence to support his stance on a potential reversal. A bullish divergence is typically viewed as a reversal signal as it indicates that an ...

A crypto strategist holding a “Master Trader” rank on the crypto exchange Bybit says one Solana (SOL)-based memecoin looks poised to have a strong week despite the latest correction. Pseudonymous analyst Bluntz tells his 278,100 followers on the social media platform X that Bonk (BONK) looks to be in the midst of a five-wave surge. Bluntz is a popular practitioner of the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave rally. The trader shares a chart suggesting that BONK will rally to as high as $0.000033. “Swift post weekly dip here which is ideal, BONK in prime position for a turbo green week, in my opinion.  Parabola soon.” Source: Bluntz/X At time of writing, BONK is trading for $0.000024, up from its 24-hour low of around $0.0000216. The trader also shares a chart comparing the price performance of BONK against fellow memecoin Pepe (PEPE). According to Bluntz, BONK looks primed to outperform PEP...

Bitcoin (BTC) crashed to $52,568 on September 6, up to 10.85% losses since the start of the month. Amid discussions about the “September Effect” punishing Bitcoin investors, a prominent analyst shows optimism as BTC reaches the “downside target.” The analyst is Credible Crypto , a Bitcoin long-term bull who signals his current bias through the X alias CrediBULL Crypto . Notably, the trader had previously shown a bearish bias in the past few months, warning of an impending BTC retracement. This recent crash has now changed Credible Crypto ‘s short-term Bitcoin price prediction, and he believes in an incoming bullish reversal. Moreover, the analyst explained that given how fast BTC crashed, the “full bull gear” may come “sooner than expected.” Picks for you Elon Musk lost his power? Posts ...