This crypto-strategist who has nailed Bitcoin is (BTCa local leader in January believed that the memecoin Pudgy Penguins.PENGUThe market is poised for another upward surge.
Bluntz’s pseudonymous analysis on social media tells 326.600 of his followers that PENGU appears to be poised for a fifth wave surge.
Elliott Wave theory is used by the trader. It states that an asset in a positive trend will tend to experience a 5-wave rally. Waves 1, 3 and 5 are upward movements, while Waves 2 and 4 act as corrective moves.
Says Bluntz,
“This looks like the PENGU wave four, in my opinion. If you missed the last run up and have been patiently waiting for the pullback, this is a good one to bid. Nice 33% dip after a big run-up is perfectly normal.”
The trader seems to be predicting that PENGU’s five-wave rally will end when it reaches $0.05. PENGU’s value is $0.0357 at the time of this writing. This represents an increase of over 7% within one day.
Bonk, another meme token to watch for is on traders’ radar.BONK). Bluntz says Altcoins are showing a bullish trend on their four-hour charts, meaning that they have a strong buying power even though the price of the altcoins has dropped.
Investors should be on the lookout for any coins with a bullish convergence, which signals a potential upside reversal.
“Likely going to be a cracking four-hour bullish divergence on BONK, probably a good spot to bid here.”
BONK’s value is $0.000026 at the time of this writing. This represents a gain of nearly 5% in one day.
Useless Coin is the last memecoin that traders are interested in.USELESSThis is the name of the trading company says The market will enter a phase of correction after the completion of a five wave rally.
“That’s five up on USELESS from inception [up to] now. Will be bidding this again in the future after the correction to the inevitable billions in market cap, but as in all things, timing is everything.”
USELESS was worth 0.2246 as of the date this post is written.
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Source: dailyhodl.com
