The cryptocurrency strategist who hit Bitcoin’s (BTC) 2018 bear market price floor says he’s looking for one memecoin to generate massive returns this cycle.
pseudonym analyst Bluntz says The 240,900 follower on social media platform
The trader shares a chart that suggests WIF could follow in the footsteps of one cryptocurrency asset that has already delivered a 5x gain this year.
“WIF will be my kingmaker trade this cycle…
I never thought my best bet would be a memecoin, but here it is. (Here) is a visual representation of what I think is happening.”
Looking at the trader’s chart, he seems to be predicting that WIF could soar to $3.
At the time of this writing, WIF is trading at $0.611, indicating an upside potential of over 700% if the memecoin achieves Bluntz’s goals.
Analysts are also bullish on the underlying asset of Filecoin (FIL), a decentralized storage network. The analyst shares a chart that suggests FIL is poised to continue its upward trend after completing an ABC corrective wave.
“I think FIL is ready for the next step. ABC’s done great for 4 hours (charts).”
Bluntz practices Elliott Wave theory, an advanced technical analysis approach that attempts to predict future price movements by following crowd psychology, which tends to manifest itself in waves. According to theory, bullish assets tend to see a surge in upside after completing an ABC correction pattern.
As of this writing, FIL is trading at $7.68.
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