A crypto strategist who nailed Bitcoin’s (BTC) 2018 bear market value ground says he’s 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 features this yr.
“WIF can be my kingmaker commerce for this cycle…
By no means thought my highest conviction wager can 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 also 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 larger after finishing an ABC corrective wave.
“FIL gearing up for the subsequent leg up right here now for my part, good ABC completed on the four-hour [chart].”
Bluntz practices the Elliott Wave principle, a complicated technical evaluation method that makes an attempt to foretell future value motion by following crowd psychology that tends to manifest in waves. In keeping with the idea, 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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