Legend Knowing Bitcoin Crashes Shared His Latest Predictions! – Cryptokoin.com

The crypto analyst, who correctly predicted the Bitcoin (BTC) rally in 2018, thinks that the leading crypto has not yet ended the rally that it started in the new year.

Smart Contracter expects Bitcoin price to repeat the pattern in 2019

cryptocoin.com As we have reported, the analyst correctly predicted that BTC will break the 2018 and 2020 rallies and lastly $23,000 in 2021. In his latest analysis, Contracter says it may be reflecting the moves of the second quarter of 2019, when Bitcoin skyrocketed from $4,000 to nearly $14,000 in a matter of months.

According to Smart Contracter, Bitcoin is in the midst of a correction wave that could pave the way for a recovery towards its next target. The analyst says that as the technical chart he shared shows, BTC is now about to complete the third wave before the last wave of the rally.

Which levels are critical?

Smart Contracter uses Elliott Wave theory, an advanced technical analysis approach that tries to predict future price action by observing crowd psychology. In Elliott theory, the uptrend goes through a pattern of 5 waves. The peak of the five-wave rally is at $28,000, according to the chart by Smart Contracter.

Bitcoin is currently busy reclaiming the $24,000 region where it peaked after the FOMC meeting last night. A January 31 study by Arcane Research showed that Bitcoin lost its pre-FOMC momentum. Despite this, institutional interest in Bitcoin continues to grow. Arcane’s report reflects the bullish situation in February, when BTC again garnered individual attention, indicating that institutional money could provide support.

Crypto strategist is also optimistic about Ethereum (ETH)

According to Smart Contracter, who then took a look at Ethereum, the leading altcoin is on the verge of exiting a symmetrical triangle pattern. The analyst summed up the latest situation by saying, “ETH had a 17-day range, which was narrowing and failed to realize any major declines.” He noted the following about the actions he can take from here:

It’s very likely to be a re-accumulation. However, there are some big catalysts to come in the next few days, so you’ll probably have to keep your finger on your pulse.

According to Contracter’s chart, ETH bulls are targeting a price level close to $1,900. The leading altcoin is currently around 10% away from this level. Meanwhile, the Ethereum network switched to a new testnet called “Zhejiang” on February 1. Published on Wednesday, Zhejiang provides testing of staked ETH withdrawals (EIP-4895). Users will have the opportunity to try simulated withdrawals until the testnet goes through an upgrade on February 7. For now, they will be able to deposit ETH with validators on the testnet and withdraw it the following week.

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