A widely respected cryptocurrency trader believes one large memecoin is primed for another bullish explosion.
Pseudonymous analyst Bluntz told his 303,200 followers on social media platform
If a triangle structure is discovered while an asset is in an upward trend, it is generally considered bullish.
Blunts says:
“It sounds like a broken record at this point, but I’ll say it again: If DOGE breaks its three-week cumulative record, it’s going to be a wild rally.”
As of this writing, DOGE/BTC is trading at 0.00000437 BTC, equivalent to $0.44.
Looking at Bitcoin itself, Bluntz believes BTC is poised to resume its rally after completing the ABC correction on the 4-hour chart.
“BTC’s perfect liquidation candle looks to me like ABC is complete.
“Leverage has been successfully deleted.”
Bluntz practices Elliott wave theory, which states that bullish assets tend to rally further after completing an ABC wave decline. Based on trader charts, he appears to have predicted that BTC would surge above $112,000.
At the time of this writing, Bitcoin is trading at $99,284.
Next is Memecoin dogwifhat (WIF). According to the trader, WIF is trying to break out of the re-accumulation pattern as the coin is bullishly printing higher lows.
“This WIF buildup is causing a rupture.”
Looking at the trader’s chart, he seems to be suggesting that a breakout will occur once WIF clears $3.50.
WIF is trading at $3.44 at the time of this writing.
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us XFacebook, Telegram
Daily Hodl Mix Surfing
 
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.
Image created by: Midjourney