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Home»ALTCOIN NEWS»Economist Henrik Zeberg predicts a rebound for Dogecoin rivals as financial markets’ ‘Blow Off Top’ approaches.
ALTCOIN NEWS

Economist Henrik Zeberg predicts a rebound for Dogecoin rivals as financial markets’ ‘Blow Off Top’ approaches.

By Crypto FlexsOctober 14, 20243 Mins Read
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Economist Henrik Zeberg predicts a rebound for Dogecoin rivals as financial markets’ ‘Blow Off Top’ approaches.
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Swissblock’s chief macro strategist is predicting major moves by Dogecoin (DOGE) rivals ahead of a potential high for the risky asset.

Henrik Zeberg told his 155,900 followers on social media platform

“WIF: Wait for the pop!”

Source: Henrik Zeberg/X

Looking at his charts, the analyst suggests that WIF is printing a series of higher lows and higher highs on a 4-hourly basis.

In June, analysts used Elliott Wave Theory to predict that WIF would explode to the $55 level.

The theory is that assets tend to have five-wave rallies, with wave three being the longest and strongest.

video
Source: Henrik Zeberg/X

At the time of this writing, WIF is trading at $2.93, up nearly 10% in the last 24 hours.

Zeberg also warned that a potential explosive rally could be forming in financial markets.

In technical analysis, a blow-off top refers to a sharp rise in price action followed by a sharp drop.

“Blow-off tops are evolving! October is going to be amazing. The same goes for November. But the economic bottom is worsening. The average unemployment rate is rising. This is a structural weakness of the economy. Forget about the revised NFP (Non-Farm Payroll) numbers. This is real progress in the economy. “Consumers are experiencing difficulties,” he said.

video
Source: Henrik Zeberg/X

The Economist shares a chart predicting that the Dow Jones Global Indexes, a collection of indices that measure the performance of global stock markets, will begin to plunge on November 11.

He said a market crash would trigger one of the worst recessions on record.

“What’s going on with what I said? This explosive tower has been called since October 2022. Now we are almost at the final stage. While everyone is excited! The biggest recession since 1929 is approaching. It’s not just deflation. But with the Federal Reserve intervening, stagflation also occurs.”

video
Source: Henrik Zeberg/X

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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