The crypto strategist who rightly called Bitcoin’s 2018 bottom says the bottom of BTC’s bear market is already in.
The pseudonymous analyst Smart Contracter tells his 281,500 Twitter followers that Bitcoin has successfully removed two diagonal resistance lines that have kept BTC in a downtrend for over a year.
“This weekly BTC candle is a solid AF breaking all-important trendline, and the low timeframe momentum is still going strong.”
Looking at the Smart Contracter chart, it looks like Bitcoin is breaking out of the C-fork pattern.
At Breakout, Crypto Analyst I think That the bottom is for the king’s cipher.
“My guts of bottoming out, and we were all blinded by ‘mUh mACrO’. “
2018, Smart Contractor pegged The Bitcoin floor is around $3,000.
Looking at altcoins, popular crypto strategists believe Ethereum (ETH) and decentralized financial lending protocol Aave (AAVE) are likely ready for a rally.
“I like AAVE for my breakout here. [It] It has the same structure as ETH before it broke out yesterday. “
Smart contracts are popular practitioners of the Elliott Wave theory. Elliott Wave Theory is a technical analysis approach that attempts to predict the future price of an asset by following the psychology of market participants who tend to appear in waves.
Based on the analyst’s charts, both ETH and AAVE appear to have completed the ABC correction wave and started a new uptrend on the daily chart. Analysts expect Ethereum to rise to around $2,200 and Aave to around $130.
At the time of writing, Ethereum is trading at $1,529 and Aave at $77.38.
Looking at smart contract protocol Avalanche (AVAX), analysts believe it has more potential than its Ethereum rival fixes.
“AVAX looks good here. Extension of wave 3. At least from $19 to $20, we wouldn’t expect a meaningful price drop.”
As of this writing, AVAX is trading at $16.49.
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