Cryptocurrency enthusiasts are eagerly watching as a popular trader predicts a potential surge in one of the top memecoins in the market. Bluntz, a well-known analyst with a significant following on X, believes that Dogecoin (DOGE) is gearing up for a strong upward movement compared to Bitcoin (DOGE/BTC) as they near the resolution of a triangle pattern.
In technical analysis, a triangle structure is often seen as a bullish sign when identified during an uptrend. Bluntz, who has been vocal about his bullish stance on DOGE, anticipates a significant upside breakout once the three-week accumulation phase is complete. This move could potentially trigger a rapid increase in DOGE’s value.
As of the latest update, DOGE/BTC is trading at 0.00000437 BTC, equivalent to $0.44. In addition to Dogecoin, Bluntz also shared insights on Bitcoin’s price action. He believes that BTC is poised to resume its upward trajectory following an ABC correction pattern on the four-hour chart. According to Bluntz, the recent price action suggests that BTC has completed a corrective wave, clearing the way for further gains.
Applying the Elliott Wave theory to his analysis, Bluntz predicts that Bitcoin could surpass $112,000 in the near future. With Bitcoin currently trading at $99,284, the potential for a significant rally is on the horizon.
Moving on to another memecoin, Bluntz also highlighted the potential breakout of dogwifhat (WIF) from a re-accumulation pattern. The trader pointed out bullish signals indicating a strong possibility of a price surge once WIF surpasses $3.50. WIF is currently priced at $3.44, with traders closely monitoring its price movement for a breakout.
In conclusion, as the cryptocurrency market continues to experience volatility, traders like Bluntz provide valuable insights and predictions based on technical analysis. With Dogecoin, Bitcoin, and other memecoins attracting attention from investors, the potential for significant price movements remains high. Stay tuned for further updates and analysis from leading cryptocurrency analysts like Bluntz.