Crypto Trader Known for Calling Bottoms Says Bitcoin's (BTC) Run Toward $100,000 and Beyond Has Started

Bybit's top Master Trader Bluntz tells his 265,800 followers on the social media platform X that Bitcoin is in the midst of a five-wave surge en route to new all-time highs.

A popular crypto trader is convinced that Bitcoin’s (BTC) ascent to six figures and beyond has begun.

Bybit’s top Master Trader Bluntz tells his 265,800 followers on the social media platform X that Bitcoin is in the midst of a five-wave surge en route to new all-time highs.

The analyst applies Elliott Wave Theory, which suggests that a bullish asset usually experiences a five-wave rally where waves one, three and five are strong upward moves and waves two and four are corrective periods.

According to Bluntz,

“The [last] BTC weekly is an absolute monster and has been up only since [July 8th] lows.

I suspect a pullback comes from horizontal resistance around $71,000 after everyone sidelined has successfully FOMO’ed (fear of missing out) back in.

Markets are very efficient at doing that.”

A glance at the trader’s chart suggests that he expects BTC to correct to $60,000 for wave two before soaring to as high as $110,000 to conclude its five-wave uptrend.

At the time of writing, Bitcoin is trading at $68,148, up over 1% on the day.

The trader is also keeping a close watch on the Solana (SOL)-based meme token Popcat (POPCAT). Bluntz says he’s bullish on the memecoin and anticipates it to rally to greater highs after flipping its previous all-time high level at $0.73 into support.

“All-time high retest complete, POPCAT full sends soon in my opinion.”

At the time of writing, POPCAT is valued at $0.912.

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