A crypto strategist who nailed Bitcoin’s (BTC) 2018 bear market value ground says he’s taking a look at one memecoin to generate huge 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 positive factors this yr.
“WIF can be my kingmaker commerce for this cycle…
By no means thought my highest conviction guess can be a memecoin however right here we’re. [Here’s a] visible illustration of what I believe occurs.”
Trying 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 for my part, good ABC completed on the four-hour [chart].”
Bluntz practices the Elliott Wave idea, a sophisticated technical evaluation strategy that makes an attempt to foretell future value motion by following crowd psychology that tends to manifest in waves. In keeping with 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.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Examine Value Motion
Comply with us on Twitter, Fb and Telegram
Surf The Every day Hodl Combine
 
Disclaimer: Opinions expressed at The Every day Hodl aren’t funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any loses chances are you’ll incur are your duty. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in affiliate marketing online.
Generated Picture: Midjourney