Popular crypto analyst Smart Contracter explains what’s next for Bitcoin (BTC) and decentralized finance protocol Aave (AAVE). The analyst expects a strong rise in the altcoin project. As Kriptokoin.com , we have compiled the details for you, let’s examine the subject together…
Smart Contracter: This altcoin looks strong!
The analyst, known as the “Smart Contracter”, tells his 199,700 Twitter followers that the native token of the Aave platform has potentially made a higher bottom, signaling a possible recovery. The analyst states that the AAVE has reached a potential support level, touching the 0.618 Fibonacci retracement level used to identify support or resistance levels.
Smart Contracter says the AAVE touched this level after trending downwards in a corrective three-wave pattern followed by a five-wave bullish pattern. According to Elliott Wave Theory, the dominant trend represented by the direction of the five-wave pattern continues after the corrective three-wave pattern. Smart Contracter adds:
A little AAVE dived here… The green lines on the weekly chart turned into a nice five-wave upswing on the daily chart, now we’ve reached 0.618 and I think it’s a higher drop…
Smart Contracter: Bitcoin will see these levels!
In the same tweet, Smart Contracter shows Aave’s upside five-wave pattern and a smaller downside three-wave pattern. According to his analyst, AAVE could rise higher against the US Dollar and Bitcoin in the next step.
Smart Contracter argues that Bitcoin could reach $100,000 in 2022, while also saying that the leading cryptocurrency could drop to $37,500. According to the analyst, once Bitcoin reaches a price above $100,000, the bear market could begin. Smart Contracter adds:
I think BTC is bottoming out anywhere between now and $37,500, giving us a similar structure to what we saw in 2019 on a larger time scale. I think there’s still $100,000 on the table for 2022. After over $100,000, we’re entering 2018-style extended bear market territory.
Here are Smart Contracter’s successful BTC and altcoin predictions
Kriptokoin.com that we reported earlier As such, Smart Contracter has known $3,200 in Bitcoin, the 2020 rally, the great Bitcoin crash of 2020, and more. In addition, the analyst correctly predicted a series of shorter-term price movements over the past few months. Smart Contracter stated that it will force a general altcoin market correction as Bitcoin finds its accumulation range and pulls back towards $23,000.
The veteran analyst was also right in this prediction and foreshadowed altcoin bleeding. Stating that he expects an altcoin meltdown in the second week of February, the analyst was also right in this prediction. In addition, the analyst correctly predicted that in the last days of March, Ethereum would drop to around $ 1,600. The analyst correctly predicted the last pullback of Bitcoin (BTC) and Ethereum in September 2021. For this reason, investors are watching the analyst’s forecasts closely.