- Bluntz, a popular cryptocurrency analyst, recently made waves with his updated market forecast.
- The pseudonymous analyst shared his TOTAL3 analysis with his 268,500 followers on the social media platform X, advising caution despite the chart’s apparent recovery.
- Bluntz anticipates a short-term dip followed by an inflow of capital, suggesting that the market is in the midst of an A-B-C correction pattern.
Discover the latest insights and analysis on the cryptocurrency market’s upcoming movements, as interpreted by a leading analyst.
Bluntz’s Current Market Forecast
Renowned for his accurate market predictions, Bluntz recently shared his insights on the TOTAL3 index. Despite the chart showing signs of recovery, he advises that market participants should not rush at this moment. Bluntz predicts an imminent downturn followed by a positive reversal within the next two days.
The A-B-C Correction Pattern
Bluntz explains that the market is currently undergoing an A-B-C correction. He points out that the downward C-wave of this pattern is not yet complete. Based on this, he foresees another leg down before the market sees substantial cash inflows. Bluntz’s meticulous analysis of the hourly chart underscores a five-wave rise from the lows, which he believes is part of the corrective structure.
Short-Term Market Movements
The analyst predicts that the TOTAL3 index, currently valued at approximately $576.31 billion, could drop to $530 billion as part of the ongoing C-wave. Following this correction, Bluntz expects a rally that could drive the index up to $640 billion. He advises traders to be cautious about making long-term investments at this juncture, suggesting that better entry points may become available within 48 hours.
Conclusion
In summary, Bluntz advises caution for those looking to maximize their investments in the cryptocurrency market. He expects a short-term dip followed by substantial bullish momentum, framing his predictions within the context of an A-B-C corrective pattern. Readers should stay informed and be prepared for potential opportunities that may arise in the near future.
