Bluntz utilizes the Elliott Wave theory in his technical analysis. The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern.
“PEPE looking primed for another 30%+ move up on daily to make a clean five wave rise with three being the longest.”
Looking at his chart, the trader suggests wave five would result in Pepe trading for about $$0.00000160.
He also says that Pepe’s recent price pattern indicates an imminent breakout beyond a key resistance level.
“PEPE rage pump loading … targeting about 25-30% upside, RR (risk/reward ratio) still favorable.”
He says Pepe is confirming the breakout.
“Let’s go lol. Solid move up so far. Been a while since I had fun on a memecoin.”
PEPE is trading for $0.00000124 at time of writing, up 5.4% in the past 24 hours.
“FTX has been selling between 250,000-700,000 SOL every day for the last two weeks while the price has either been going up or sideways. So far it’s been getting absorbed like a champ and at the current rate, their unlocked tokens should be depleted within a week. Once this seller is gone, I can only imagine how hard it’s going to pump. Don’t middle curve this.”
Solana is trading for $44.46 at time of writing, up 2.7% in the last 24 hours.
“BTC really trying hard to break out of this vertical accumulation. 18 days of sideways might finally be coming to an end.”
Bitcoin is trading for $36,576 at time of writing, up 2.3% in the last 24 hours.
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