An analyst with a “Master Trader” rating on cryptocurrency exchange Bybit believes that top memecoin Dogecoin (DOGE) is poised for more upside.
Pseudonymous analyst Bluntz told his 291,000 followers on social media platform
Traders practice Elliott Wave Theory, which states that bullish assets tend to have a five-wave uptrend following an “ABC” correction.
Blunts says:
“DOGE/BTC is showing sentiment again, has swept the A wave low and now looks like a clear ABC downward move is complete.
I’ve been waiting for this thing to cool down and start posting bulls again, and I think the time has come.”
Looking at the trader’s chart, it looks like he predicted that DOGE/BTC would soar to 0.000008 BTC ($0.73). As of this writing, DOGE is trading at $0.365.
Turning to Bitcoin itself, the analyst believes BTC has started a new five-wave surge on lower time frames, targeting $100,000.
“So far so good.”
As of this writing, Bitcoin is trading at $90,227.
For memecoin Pepe (PEPE), Bluntz said the altcoin is likely to reach $0.00003.
“Don’t let those magic PEPE squiggles disappear.”
As of this writing, PEPE is worth $0.0000214.
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