The crypto strategist who precisely called Bitcoin’s (BTC) bottom in 2018 is revealing the cost level that he believes would mark completion of the bearish market.
Pseudonymous expert Smart Contracter informs his 214,300 Twitter fans that Bitcoin is “quite bloody near a bottom.”
“I still believe there may be another month or two prior to we see it. [It’s] beginning to appear like there’s an ending diagonal forming to end up the bearish market ABC.”
Smart Contracter is a popular specialist of the Elliott Wave theory, a sophisticated technical analysis technique that tries to forecast future cost action by following the psychology of market individuals that tends to manifest in waves. According to the theory, an A-B-C pattern is a three-wave structure that marks a restorative duration in an uptrend.
Taking a look at the expert’s chart, Smart Contracter seems forecasting another upper hand for Bitcoin to around $17,500 prior to another sell-off occasion that would send out BTC near $12,500.
Says Smart Contracter,
“My strategy is to purchase some area on a breakdown of $14,000 then include on the ending diagonal breakout. In a couple of years’ time when BTC and ETH are >>$100,000 and $10,000 respectively, it will not matter excessive if you purchased $16,000, $15,000 and even $14,000.”
Sometimes of composing, Bitcoin is trading at $15,818, down 2.15% on the day.
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