A crypto strategist who nailed Bitcoin’s (BTC) 2018 bear market worth flooring says he’s taking a look at one memecoin to generate large returns this cycle.
Pseudonymous analyst Bluntz tells his 240,900 followers on the social media platform X that the Solana (SOL)-based memecoin dogwifhat (WIF) is his “highest conviction” commerce this cycle.
The dealer shares a chart suggesting that WIF could also be following within the footsteps of 1 crypto asset that has already printed 5x good points this yr.
“WIF can be my kingmaker commerce for this cycle…
By no means thought my highest conviction guess could be a memecoin however right here we’re. [Here’s a] visible illustration of what I believe occurs.”
Wanting on the dealer’s chart, he appears to foretell that WIF can soar to as excessive as $3.
At time of writing, WIF is buying and selling for $0.611, indicating an upside potential of over 700% if the memecoin hits Bluntz’s goal.
The analyst can be bullish on the native asset of the decentralized storage community Filecoin (FIL). The analyst shares a chart suggesting that FIL is poised to proceed trending increased after finishing an ABC corrective wave.
“FIL gearing up for the following leg up right here now in my view, good ABC achieved on the four-hour [chart].”
Bluntz practices the Elliott Wave idea, a complicated technical evaluation strategy that makes an attempt to foretell future worth motion by following crowd psychology that tends to manifest in waves. Based on the speculation, a bullish asset tends to witness a burst to the upside after finishing an ABC corrective sample.
At time of writing, FIL is buying and selling for $7.68.
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