According To Analyst BTC Set to Rise As ETH Shows Perfect Price Pattern
As Ethereum (ETH) signals a positive trend, a crypto expert who accurately predicted Bitcoin’s 2018 market bottom predicts BTC may rally again.
Pseudonymous analyst Smart Contracter informs his 220,300 Twitter followers that Bitcoin may have finished its corrective period and be poised to rise.
“Honestly think that is the low for BTC, aiming for another leg up on daily to $25,500 from here.”
Elliott Wave theory, a technical analysis method that predicts market action by following crowd psychology in waves, is popular with Smart Contracter. The idea states that a bullish asset has a five-wave rally with impulse surges in waves one, three, and five and corrective phases in waves two and four.
The analyst’s graphic indicates wave four’s finish and wave five’s start. Bitcoin currently costs $21,821.
The crypto expert thinks Ethereum bulls have held the ascending channel’s uptrend line.
The crypto strategist also monitors Litecoin’s pricing (LTC). After breaking successive lower-timeframe resistances, Smart Contracter says Litecoin (LTC/BTC) is showing bullish indications versus Bitcoin.
“LTC so far one of the first of the majors to recover.”
