A trader who continues to expand his audience with timely crypto calls outlines a potential price trajectory for Dogecoin (DOGE)’s rally to new all-time highs.
Pseudonymous analyst Bluntz tells his 292,900 followers on social media platform
The trader shares a chart suggesting DOGE could explode to a new all-time high of $0.85 before ending its five-wave rally.
“Nothing has changed, we just had a nice 23% drop in the time frame I count as wave four in a monster surge of extended wave three.
Once DOGE’s next leg begins, it will likely start sucking liquidity out of smaller memes again. The only reason they worked so hard this week was because DOGE had been relaxing for five days, in my opinion.
I think this week will be a DOGE week.
Bluntz puts into practice Elliott Wave Theory, an approach to technical analysis that attempts to predict future price action by following crowd psychology that tends to manifest in waves. According to the principles of Elliott Wave, a bullish asset often witnesses a five-wave rally, where waves one, three and five are bullish movements and waves two and four are correction periods.
At the time of writing, DOGE is trading at $0.372, down 49% from its all-time high of $0.731.
Zooming in, Bluntz shares his predictions for DOGE in the coming days.
“The ideal scenario for DOGE is a slow advance over the next few days, which could pave the way for another parabolic breakout later in the week, similar to the last…
I think DOGE will gently remind everyone who the king is this week.
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