[ad_1]
A popular analyst and trader who accurately predicted Bitcoin (BTC) 2018 lows six months in advance appears to be turning into a bull.
Pseudonymous analyst Smart Contracter tells his 218,100 Twitter followers that he is ditching his bearish bias after Bitcoin broke out of an upper range.
He is now looking for opportunities to enter long positions whenever a breakdown occurs.
According to Smart Contracter, Bitcoin will likely outperform other crypto assets in the future.
“Now that BTC is out of this choppy sluggishness, I am removing the bearish bias and looking at long pullbacks.
The price action looks impulsive to me now and I also think that with BTC poised to hit the December high, BTC dominance will increase and BTC will outperform the altcoins.
Source: Smart Contract
Looking at crypto analyst charts, Smart Contracter seems to suggest that Bitcoin is ready to break above $18,800. In its technical analysis, Smart Contracter applies the Elliot Wave Theory, which states that the main trend occurs in a five-wave pattern while a corrective trend occurs in a three-wave pattern.
Bitcoin is trading at $18,157 at the time of writing.
When it comes to bitcoin dominance, Smart Contracter seems to predict that BTC will reach over 43%. Bitcoin dominance is currently 38%.
Next up is the smart contract enabled Avalanche (AVAX) blockchain. Smart Contractor says the 19th-largest crypto asset by market capitalization appears to have bottomed out after a 90% correction from the all-time high. The crypto analyst says he will look for buying opportunities when Avalanche corrects lower.
“Now that AVAX is out of that high time frame end diagonal with a divine candle, it looks like a bottom to me.
I certainly can’t hunt here. But I’m 100% on my radar again for shopping backwards.
Source: Smart Contract
Avalanche is trading at $15.18 at the time of writing, up around 40% in two weeks.
Don’t miss a beat Subscribe to receive crypto email alerts straight to your inbox Check price action Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check the latest headlines Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their 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 loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.
Generated Image: Midjourney
|
Sources 2/ https://news.google.com/__i/rss/rd/articles/CBMif2h0dHBzOi8vZGFpbHlob2RsLmNvbS8yMDIzLzAxLzEzL2NyeXB0by10cmFkZXItd2hvLW5haWxlZC0yMDE4LWJpdGNvaW4tYm90dG9tLXR1cm5zLWJ1bGxpc2gtb24tYnRjLWFuZC1vbmUtZXRoZXJldW0tY2hhbGxlbmdlci_SAYMBaHR0cHM6Ly9kYWlseWhvZGwuY29tLzIwMjMvMDEvMTMvY3J5cHRvLXRyYWRlci13aG8tbmFpbGVkLTIwMTgtYml0Y29pbi1ib3R0b20tdHVybnMtYnVsbGlzaC1vbi1idGMtYW5kLW9uZS1ldGhlcmV1bS1jaGFsbGVuZ2VyL2FtcC8?oc=5 The mention sources can contact us to remove/changing this article |
[ad_2]