Analysts who have earned their “Master Trader” Bybit’s ranking of the top Dogecoin memecoin.DOGE() has been preparing for future rallies.
Pseudonymous Bluntz told his 291,000 Twitter followers (X) that Dogecoin appeared to have finished an ABC corrective movement against Bitcoin.BTC).
Elliott Waves theory is used by the trader. It states that an asset in a positive trend will tend to move up five waves after a downward trend. “ABC” correction.
Says Bluntz,
“DOGE/BTC is looking very sendy, it has swept through the lows of A-wave and now looks to be a complete ABC move.
“I have been waiting to see if this bull would cool down before I started posting about it again. I believe the time is now.”
The trader seems to be predicting that the DOGE/BTC pair will reach a high of 0.000008 BTC (roughly $0.73). DOGE was trading for $0.365 at the time of this writing.
Analysts believe that Bitcoin has begun a five-wave rally in a lower timeframe and is aiming to reach $100,000.
“So far so good.”
Bitcoin currently trades for $92,227.
Pepe, the memecoin (PEPEBluntz believes that altcoins are likely to reach $0.00003.
“Don’t fade the magic PEPE squiggles.”
PEPE was worth $0.000000214 at the time this article was written.
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Source: dailyhodl.com
