A crypto strategist who energized his followers after hitting Bitcoin (BTC) bottom in 2018 believes a memecoin is preparing to spark more rallies.
Pseudonymous analyst Bluntz tells his 277,200 followers on social media platform bullish after its decline in recent days.
The trader shares a chart suggesting that PEPE will rebound near $0.000014 before ending its five-wave rise.
“Have a nice little dip PEPE this beautiful Sunday evening, I think the bottom should be here any minute.
There is still a lot of work to be done in my opinion, and this is an absolute monstrous trend.
Bluntz applies Elliott Wave Theory, which states that a bullish asset tends to rally in five waves before plateauing. The theory also states that a bullish asset generally recovers after the conclusion of an ABC correction.
Looking at the trader’s chart, it seems to suggest that PEPE has completed an ABC pullback in the midst of a third wave.
At the time of writing, PEPE is trading at $0.0000105.
As for fellow trader dogwifhat (WIF), the trader shares a chart suggesting that the Solana-based altcoin (SOL) has removed a diagonal resistance zone that has kept the crypto asset bearish for months.
“GM (hello) my hatted brothers.”
At the time of writing, WIF is worth $2.44, well above diagonal resistance.
Another memecoin on the trader’s radar is Popcat (POPCAT). According to Bluntz, POPCAT appears poised to explode and reach new, all-time highs.
“POPCAT looks good again here, nice ABC down on the 4 hour chart just below all time highs, next leg should break.
I’m starting to have trouble finding room for all the bags I want to have now, too many of them are great.
Based on the trader’s chart, it seems to suggest that POPCAT will hit a new all-time high of $1.25.
At the time of writing, POPCAT is worth $0.95.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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