An analyst known as “Master Trader” on crypto exchange Bybit believes Dogecoin (DOGE) the correction is complete.
Pseudonymous analyst Bluntz tells his 299,300 followers on social media platform X that the top memecoin’s parabolic rally is only just beginning.
The trader shares a chart suggesting DOGE could surpass $1 before its five-wave rally ends.
“The current fourth wave of DOGE appears to be over here.
(DOGE) has been in a flat upward correction for two weeks now and many people have gotten bored and moved on in search of the next shiny thing.
In reality, the DOGE parabola is just getting started, no profit taking up to $1 minimum in my opinion.
Bluntz practices Elliott Wave Theory, which states that a bullish asset tends to experience five waves before seeing an ABC correction. According to the theory, waves one, three and five are bullish surges while waves two and four are correction periods.
At the time of writing, DOGE is trading at $0.388.
The trader is also bullish on Layer 1 protocol and Solana (GROUND) the competitor Sei (SEI). According to the trader, SEI removed diagonal resistance on Bitcoin (SEI/BTC) and US dollar pairs.
“Take note of things that barely went down when BTC did, they will be fully sent once BTC resumes upward.
SEI is on my list of favorites.
At the time of writing, SEI is trading at $0.685.
Looking at Bitcoin itself, the trader believes BTC will leave those waiting at lower levels.
“It’s probably about the BTC pullout here I think from here and it won’t go as low as people think.”
From the trader’s chart, BTC appears to have made an ABC correction and is now consolidating before breaking above $100,000.
At the time of writing, Bitcoin is worth $92,022.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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