As a seasoned financial analyst with over two decades of experience in the markets, I have seen my fair share of market fluctuations and trends. The recent back-and-forth between Bitcoin (BTC) and its potential upside move has piqued my interest, especially when it comes to alternative coins, specifically memecoins.
Following the recent controversy regarding the transfer of Bitcoin linked to the U.S. government’s Silk Road case, it seems that the dominant cryptocurrency is yet to initiate its significant price surge. Once it does, popular meme coins like WIF, BONK, and BRETT will be poised for this go-ahead signal.
Memecoins primed to move
1. Regarding Bitcoin (BTC), its predicted major surge upward remains on hold for now. Interestingly, when a market trend like this is expected to rise, it often tends to move in the opposite direction instead.
As a crypto investor, I can tell you that if Bitcoin’s price unexpectedly breaks out of its bull flag formation and rises, some of the strongest altcoins will likely follow suit. The memecoin niche, known for its swift movements within the altcoin market, is one area to keep an eye on.
Leading meme coins like $WIF, $BONK, and $BRETT are anticipated to lead the charge in terms of market movement, and it’s plausible that these coins may show rapid shifts.
$WIF respects the fibonacci levels
1. Over the past five months, the price of $WIF has displayed a clear trend, with substantial drops from its record high on March 31st this year, amounting to approximately 70%. Notably, the stock has found support at around $1.49, while the next level of potential support is situated at roughly $2.36, where it currently resides.
The price of $WIF has been adhering remarkably well to Fibonacci levels. For potential future prices, we can find the 0.382 level at approximately $2.77, the 0.618 at around $3.56, and the 0.786 at about $4.13. If the price of $WIF surpasses all these levels, its all-time high is located at $4.86.
$BONK breakout and retest
The cryptocurrency $BONK continues its upward trajectory, with the price surpassing a previous downward trend line and subsequently retesting it. Nevertheless, there remain two significant resistance levels at $0.00002929 and $0.00003400 that have yet to be surmounted. Previously, the price has encountered rejection at both of these levels. However, if Bitcoin ($BTC) begins to gain momentum, it is likely that $BONK will receive another opportunity to breach these resistance levels.
$BRETT breakout favours upside direction
1 Way of Paraphrasing:
Based on Fibonacci ratios, potential optimistic price points stand at approximately $0.16 (representing the 0.618 level) and $0.175 (the 0.786 level). The maximum historical price reached is $0.196.
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2024-07-30 14:10