Knowing the bottom price of Bitcoin in 2018, Smart Contracter believes that the next few weeks will be tough. Many of the analysts altcoin He commented that “five wave rallies are already over”.
The analyst uses a model called “Elliott Wave theory”. According to the theory, a bullish asset is likely to witness a corrective move after breaking through a five-wave uptrend.
“People have been expecting higher for altcoins, especially altcoins, which I’m sure have been poised to top out for the past few weeks. Five waves are rising daily everywhere, especially TOTAL3 in all assets except Bitcoin and Ethereum.
According to the analyst’s chart, Ethereum It is possible that the market value of altcoins, excluding the This indicates a significant downside risk to crypto assets other than Bitcoin and ETH.
Analyst Shares Altcoin Basket
One of the altcoins in the analyst’s basket is Ethereum rival Avalanche (AVAX). Smart Contracter shared a chart showing that AVAX has completed a five-wave rise on the eight-hour chart and is likely to correct around $15.
The analyst is also keeping a close eye on the decentralized oracle network Chainlink (LINK). According to a chart he shared on Twitter, LINK has also completed its five-wave rally and is likely poised to retrace just above $6.
Smart ContracterAccording to , the same is true for the interoperable blockchain Cosmos (ATOM). The analyst also believes that ATOM has completed its five-wave rise.
