A popular crypto analyst, well-known for his accurate Bitcoin predictions, suggests that BTC is primed for a final correction before skyrocketing to new all-time highs. Going by the pseudonym Bluntz, he shares his insights with his 261,200 followers on X, indicating that Bitcoin seems to be forming a bullish pennant pattern on the three-day chart.

Bluntz predicts that BTC might experience a slight drop to around $60,000 before making a strong push above $80,000. He expresses his view of potential consolidation in the high time frames for Bitcoin, noting the concerning performance of alternative coins compared to BTC’s stability. A pullback to $62,500, although only a 12% decrease for Bitcoin, could have a significant impact on other altcoins.

Examining Bluntz’s chart, it appears that he anticipates Bitcoin reaching close to $87,500 by the year’s end. As of now, Bitcoin is valued at $67,315, showing a decrease of over 3% in the past day. Additionally, the analyst is closely monitoring the meme coin dogwifhat (WIF), suggesting a bearish outlook with a potential drop to $1.

Bluntz employs the Elliott Wave theory in his technical analysis, indicating that assets typically undergo an ABC correction following a five-wave rally. According to his chart, WIF seems to have completed a five-wave surge when it reached around $5, with a projected drop to $1.068 to finalize its correction phase. Currently, WIF is valued at $2.54.

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