title: Crypto Strategist Who Called Bitcoin (BTC) Top in January Warns Recovery Rally May End Abruptly

A crypto strategist who nailed the Bitcoin top in January is warning that BTC's recovery rally may witness an abrupt end.

A crypto strategist who called the Bitcoin top in January is warning that BTC’s recovery rally could be quickly dashed.

Pseudonymous analyst Bluntz tells his 318,200 followers on X that Bitcoin appears to be forming a bearish divergence on the daily chart.

The bearish reversal signal suggests that bullish momentum is decreasing even though an asset’s price is going up or sideways.

“There’s a daily BTC bear div brewing here if it closes red by [today]. It’s unfortunate that it has appeared before fresh all-time highs, but it’s the first one since last year. Be careful with longs in my opinion,” says Bluntz.

At time of writing, Bitcoin is trading for $105,546.

Turning to gold, the analyst believes that the precious metal is setting up for a rally to a new all-time high after completing an ABC corrective wave.

According to Elliott Wave theory, a bullish asset will continue its uptrend after an ABC correction.

The trader shares a chart that suggests gold will rally to a new record high of $3,600.

“Gold gathering steam for the next leg up here.”

At time of writing, gold is worth $3,221.

As for the memecoin Floki (FLOKI), Bluntz predicts that the altcoin will drop to around $0.00008 before exploding to $0.00018.

“Looks like FLOKI is one of the few memes with a clear impulse five-wave rise from the lows on the daily, indicating the low is in. Would be very interested in bidding pullbacks around the 50 fib if given. Have always had a soft spot for this one.”

At time of writing, FLOKI is worth $0.000098.