dailyhodl.com
A top analyst known for making well-timed crypto calls is unveiling a huge price target for the Solana (SOL)-based memecoin dogwifhat (WIF).
Pseudonymous analyst Bluntz tells his 264,200 followers on the social media platform X that WIF appears to be in the early stages of a fresh five-wave rally.
Bluntz practices the Elliott Wave theory, which states that a bullish asset tends to go through a five-wave upside move. The trader shares a chart suggesting that WIF could skyrocket to as high as $11 by November of this year before concluding its five-wave surge.
“Don’t be afraid to dream a little bigger.
WIF.”
At time of writing, WIF is trading for $2.26, indicating an upside potential of over 386% if the memecoin hits the analyst’s target.
The trader is also keeping a close watch on Bitcoin (BTC). Bluntz says he continues to be bullish on the crypto king after its most recent quarterly candle flipped resistance at around $60,000 into support.
“Imagine thinking this BTC quarterly chart looks bearish, couldn’t be me.”
Looking at Bitcoin’s weekly time frame, Bluntz shares a chart suggesting that BTC is consolidating within a triangle pattern. According to the chart, BTC looks poised for a rally above $68,000 (D wave) before a last leg down to $62,000 (E wave).
“Cracking BTC weekly shaping up now.”
The chart also appears to suggest that BTC will break out and rally above $80,000 after the E-wave correction.
At time of writing, Bitcoin is trading for $62,842.
Generated Image: DALLE3