A widely followed crypto trader who accurately predicted the bottom for Bitcoin (BTC<\/a>) in 2018 is expressing bullish sentiment on the flagship crypto asset.<\/p>\n Pseudonymous analyst Bluntz tells<\/a> his 227,200 followers on the social media platform X that Bitcoin appears to be \u201con the cusp of breaking out\u201d after consolidating for a fortnight.<\/p>\n Bluntz utilizes the Elliott Wave theory in his technical analysis. According to the trader\u2019s charts, Bluntz predicts the price of Bitcoin could hit an initial target of $38,000 before eventually reaching $42,000 in a series of waves.<\/p>\n The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while the correction happens in a three-wave pattern.<\/p>\n Bitcoin is trading at $35,350 at time of writing, up by around 30% since mid-October.<\/p>\n Turning to the seventh-largest crypto asset by market cap, Bluntz says<\/a> the decentralized application platform Solana (SOL<\/a>) has stalled after previously breaking out of a descending channel following significant accumulation.<\/p>\n According to the analyst, Solana could trade<\/a> in a range for a while before turning to the upside. Bluntz\u2019s initial target is a little over 10% up from the current price.<\/p>\n SOL is worth $43.23 at time of writing, up by over 100% since mid-October.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>![\"\"](\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2023\/11\/bluntzsolana.jpeg?w=1024\")
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