Bitcoin (BTC) Known for predicting the bottom in 2018 and Smart Contracter The popular analyst, who uses his nickname, said that the crypto market, which started 2023 on the rise, has a few tough weeks ahead.
from his Twitter account altcoin Alerting its investors and applying the Elliott Wave theory, Smart Contracter stated that many altcoins have already completed their five-wave rallies.
According to this theory, the bullish altcoin will likely experience a correction after going through a five-wave uptrend.
“Investors expect cryptocurrencies, especially altcoins, to rise even higher after being fairly confident that they have peaked over the past few weeks.
Literally everywhere, I see five waves of upswing completed every day, most importantly on the TOTAL3 chart and other charts, which represent the market cap of all altcoins except Bitcoin (BTC) and Ethereum (ETH).
Of the five altcoins that the analyst thinks has completed its rise Avalanche (AVAX), Chainlink (LINK) and Cosmos (ATOM) examined.
The analyst, who first looked at Avalanche, shared a chart showing that AVAX has completed a five-wave rise on the eight-hour chart, predicting that AVAX will likely make a correction towards the $15 levels.
at the time of writing AVAX It is trading at $20.17.
Secondly, the analyst, who examined Chainlink, shared the chart. LINKHe also said that he saw that the .
At the time of writing, LINK is trading at $6.99.
Finally cosmosAnalyzing , Smart Contracter believes that ATOM has also completed its five-wave rise.
at the time of writing ATOM It is trading at $13.28.
people aping alts expecting higher where im pretty sure were gearing up to top for a few weeks, especially alts.
5 wave rises on daily literally all over the place, most notably on total3 which is all alts excluding btc and eth.
5% off fees👇https://t.co/MLmWabzLxh pic.twitter.com/Fb9mRnjVz6
— Bluntz (@SmartContracter) January 28, 2023
*Not investment advice.
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