A trader who accurately called Bitcoin’s (BTC) 2018 undergo market bottom says he’s bullish on two memecoins.
Pseudonymous analyst Bluntz tells his 240,800 followers on the social media platform X that the Solana (SOL)-essentially based fully fully meme token dogwifhat (WIF) has been printing bullish elevated low setups every time the asset completes a three-wave corrective pass.
Bluntz is a practitioner of the Elliott Wave view, a technical diagnosis formula that attempts to foretell future impress circulation by following crowd psychology that tends to manifest in waves.
In conserving with the hypothesis, a bullish asset tends to glimpse a three-wave corrective pass sooner than the next leg up.
Says Bluntz,
“WIF has truly been trading in a mammoth accumulation putrid since inception, with fixed impulsive rises and incessant obvious corrective three-wave strikes help down, every time forming a elevated low.
By some means, this putrid breaks out and strikes elevated and heaps will be very much bowled over, however the signs had been there.”
Having a take a look at the analyst’s chart, he seems to be to counsel WIF is on the verge of breaking out from an ascending triangle pattern en path to rallying toward his goal at $1.40.
At time of writing, WIF is price $0.507, up over 42% in the previous day.
One other altcoin on the trader’s radar is the memecoin Pepe (PEPE). Bluntz shares a chart that ability PEPE has done a three-wave corrective pass and is now poised to rally toward his goal at $0.0000022.
“Nice true push elevated on PEPE all weekend.
I admire this setup plenty, meme season appears love it’s some distance heating up but again.”
At time of writing, PEPE is price $0.000001832, up over 30% in the closing 24 hours.
