Crypto Analyst Who Accurately Called Bitcoin’s Massive Collapse Forecasts Ethereum Rally, Updates BTC Outlook
A crypto strategist who built his huge following with timely Bitcoin calls says he expects rallies for BTC and Ethereum (ETH).
Pseudonymous analyst Smart Contracter tells his 208,700 Twitter followers that a sustained Ethereum rebound is in sight after the leading smart contract platform managed to stay above the 0.618 Fibonacci level.
“Nice move from 0.618 on ETH, looking good for a move to around $1400. I can definitely say volatility is decreasing as it took days of bouncing to get a decent bounce from this level.
As of this writing, Ethereum is changing hands for $1,134, down just over 1% on the day.
Looking at Bitcoin, Smart Contracter says that BTC also had a constructive reaction around the 0.618 Fibonacci area, which he says bodes well for the top crypto by market cap.
“Nice reaction from 0.618 on BTC to daily close. It pays to have a plan and execute it.
Bitcoin’s reaction above the 0.618 Fibonacci level is aligned with Smart Contracter’s view that BTC is preparing for a rally. Late last month, the analyst said Bitcoin traders appeared to be hoarding BTC and he expected a rebound of at least $24,000.
“Each day BTC is starting to look more and more like an accumulation. Predicting a maximum bid between $19,000 and $19,000, whether it’s the ultimate low or just halfway through, I’m still not sure, but I think we will get a minimum of $24,000.
At the time of writing, Bitcoin is trading for $20,273.
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