Bitcoin Ordinals Token That’s Exploded Over 4,600% in a Month Flashing Bullish Signal, According to Top Analyst
A widely followed crypto analyst says one Bitcoin (BTC) ordinals token that has skyrocketed in the last few weeks still possesses more upside potential.
Pseudonymous crypto strategist Bluntz tells his 254,300 followers on the social media platform X that he has entered a long position on PUPS (Ordinals) amid an ascending channel breakout on the token’s four-hour chart.
In technical analysis, a breakout occurring on the upper border of an ascending channel is considered a bullish move.
PUPS is trading at $78 at time of writing, up a staggering 4,656% from its March 17th low of $1.64.
Bluntz chart below indicates that PUPS is exhibiting a similar pattern to that formed by Nosana (NOS), a decentralized crowd-computing protocol, before it broke out earlier in the year.
The analyst also offers his prediction on Bitcoin. According to Bluntz, Bitcoin appears to be mirroring gold’s consolidation around the precious metal’s all-time highs. He shares gold’s two-week chart showing that the precious metal traded within a range for four years before breaking out and printing record highs.
He notes that BTC may follow a similar pattern but on an accelerated timeline.
He also predicts that gold will likely climb to as high as $4,000 on the back of inflation concerns.
At time of writing, gold is trading at $2,343 while Bitcoin is worth $66,722.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
The post Bitcoin Ordinals Token That’s Exploded Over 4,600% in a Month Flashing Bullish Signal, According to Top Analyst appeared first on The Daily Hodl.
