The crypto analyst who pinpointed the bottom of Bitcoin’s (BTC) 2018 bear market says three altcoins are in the middle of a breakout.
A pseudonymous analyst, known in the industry as Smart Contracts, has told his 210,500 Twitter followers that Ethereum (ETH) challenger Solana (SOL) has removed resistance in forming a symmetrical triangle.
“SOL multi-month cumulative break”.
As of this writing, SOL is changing ownership for $46.98.
The crypto strategist says fellow smart contract protocol Avalanche (AVAX) and Ethereum scaling solution Polygon (MATIC) have also ignited resistance in their respective triangles.
At the time of writing, AVAX is trading at $29.44, down 1.38% on the day.
At the time of writing, MATIC is trading at $1.03, up 2.47% over the last 24 hours.
Looking at the borrowing and lending protocol Aave (AAVE), Smart Contracter believes the decentralized financial altcoin is in the process of bottoming out against Bitcoin (AAVE/BTC).
An old favorite, AAVE bottomed out against BTC.
Looking at Bitcoin itself, the smart contract believes that BTC is about to break the immediate resistance of $24,700 and ignite a rally to the next resistance of $30,000.
If BTC breaks out of $24,000, the modified WXY structure from lows will be invalid in my eyes and this move will be a bullish buildup and a series of 1-2.
[BTC] Haven’t had a breakout yet, but I think it will. “
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