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. Cryptocoin. 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 Aave platform’s native token has potentially made a higher bottom, signaling a possible rebound. The analyst states that the AAVE has reached a potential support level by touching the 0.618 Fibonacci retracement level, which is used to identify support or resistance levels.
Smart Contracter says that AAVE touched this level after trending downwards in a corrective three-wave pattern that followed 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 the following to its explanations on the subject:
AAVE diverged a bit here… The green lines on the weekly chart turned into a nice five wave ups 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 off Aave’s five-wave uptrend and a smaller three-wave pattern downstream. According to his analyst, AAVE could rise higher against the US Dollar and Bitcoin in the next step.
While Smart Contracter argues that Bitcoin can reach $100,000 in 2022, he also says that the leading cryptocurrency can drop to $37,500. According to the analyst, the bear market may begin after Bitcoin reaches a price above $100,000. Smart Contracter adds the following to its explanations on the subject:
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 prices above $100,000, we are entering 2018-style extended bear market territory.
Here are Smart Contracter’s successful BTC and altcoin predictions
Cryptocoin. com, 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 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 retreats towards $23,000 in the past.
The master 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 decrease to approximately 1,600 dollars. The analyst correctly predicted the last withdrawal of Bitcoin (BTC) and Ethereum in September 2021. For this reason, investors are watching the analyst’s forecasts closely.