After the recent halving event, a well-known crypto analyst, who goes by the pseudonym Bluntz, is sharing bullish sentiments about Bitcoin (BTC). In a message to his 257,100 followers on the social media platform X, Bluntz suggests that Bitcoin is poised for a breakout based on the price action seen on the two-hour chart.

Bluntz’s analysis indicates that Bitcoin is forming a symmetrical triangle pattern on the two-hour chart. These patterns can be either bullish or bearish, depending on whether the price breaks out above the upper trend line or below the lower trend line.

The pseudonymous analyst believes that once Bitcoin surpasses the $67,000 resistance level, the entire market will experience significant growth. Currently, Bitcoin is trading at $66,455.

Bluntz also takes a look at the Solana-based memecoin dogwifhat (WIF). According to his analysis, WIF is on the verge of a breakout after forming an ascending triangle pattern over a two-week period on the four-hour chart.

Additionally, Bluntz’s chart shows that WIF has also formed a three-wave pattern to the downside. According to the Elliott Wave theory, the main trend of an asset’s price moves in a five-wave pattern, while a minor correctional trend moves in a three-wave pattern. At the time of writing, WIF is trading at $3.38.

Moving on, Bluntz shares his insights on the Pepe (PEPE) memecoin. He suggests that Pepe is gaining momentum and has completed a three-wave pattern to the downside. The pattern ended at the 0.618 Fibonacci retracement level, which is used in technical analysis to identify potential support and resistance levels.

Based on Bluntz’s chart, he predicts an upside target of around $0.000013 for Pepe, which would represent a 66% increase from the current level. Currently, PEPE is trading at $0.00000784.

It’s important to note that the opinions expressed by Bluntz and The Daily Hodl are not investment advice. Investors are advised to conduct thorough research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. All transfers and trades are done at the investor’s own risk, and any losses incurred are their responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, and it is not an investment advisor.