A widely followed cryptocurrency analyst and trader is growing bullish on a rival to Dogecoin (DOGE) and Shiba Inu (SHIB).
The analyst, pseudonymously known as Bluntz tells his 290,300 followers on social media platform
The analyst applies the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave upward move after completing an ABC move down.
“PEPE has now made a nice five up from the lows on low time frames and the pullback from the highs was also a clear three wave move to the downside. It looks like the push for a new all-time record has begun.”
Looking at his chart, the analyst suggests that Pepe could rise to over $0.00003000 for a bullish asset according to the principles of Elliott Wave theory.
Pepe is trading at $0.00002339 at the time of writing, up 14.2% in the last 24 hours.
Then the analyst say that Bitcoin (BTC) may have completed an Elliott Wave theory ABC corrective wave pattern within a one-hour time frame and is now starting to print a five-wave pattern to the upside.
“That should be it for BTC’s withdrawal in my opinion. Next comes the major resistance at $100,000.”
Bitcoin is trading at $91,101 at the time of writing, up 4.5% in the past 24 hours.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us further X, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: Midjourney
Credit : dailyhodl.com
