Crypto strategist Smart Contracter, well-known for correctly predicting Bitcoin’s 2018 bottom, has made a bold claim that the floor for the BTC bear market is already in. With over 281,500 followers on Twitter, the pseudonymous analyst shared his insights, noting that Bitcoin has recently broken through two diagonal resistances that have kept it in a downtrend for over a year. Smart Contracter’s chart analysis suggests that Bitcoin has broken out of a C-fork pattern, which is typically seen as a potential reversal signal. He expressed confidence in his prediction, stating, “My guts telling me bottom’s in, and we all got blinded by ‘mUh mACrO.'”
In addition to Bitcoin, Smart Contracter also shared his thoughts on altcoins like Ethereum (ETH) and decentralized finance lending and borrowing protocol Aave (AAVE), indicating that they are likely poised for rallies. The analyst pointed out that Aave’s structure is similar to Ethereum before its recent breakout. As a practitioner of the Elliott Wave theory, Smart Contracter uses technical analysis to predict price movements based on market psychology. According to his charts, both ETH and AAVE have completed ABC corrective waves and are now showing signs of starting a new uptrend. He predicts a rally to around $2,200 for Ethereum and $130 for Aave, offering potential trading opportunities for investors.
When looking at smart contract protocol Avalanche (AVAX), Smart Contracter sees more upside potential before a correction. The analyst highlighted a wave three extension for AVAX and suggested that a meaningful pullback may not occur until the price reaches $19-$20. At the time of writing, AVAX is trading at $16.49, indicating room for further growth according to Smart Contracter’s analysis. Overall, the strategist’s insights provide valuable information for traders and investors seeking to capitalize on market trends and potential price movements in the cryptocurrency space.
In conclusion, Smart Contracter’s accurate predictions and analysis of Bitcoin, Ethereum, Aave, and Avalanche offer valuable insights for investors looking to navigate the volatile crypto market. With a track record of correctly pinpointing key bottoms and breakouts, the analyst’s expertise in technical analysis and Elliott Wave theory can help traders make informed decisions and capitalize on potential opportunities in the market. By following Smart Contracter’s updates and charts on social media platforms like Twitter, investors can stay ahead of market trends and position themselves strategically for success in the ever-changing world of cryptocurrency trading.
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