A crypto strategist and trader, who built his following after accurately predicting Bitcoin’s bear market bottom in 2018, says BTC is poised to restart its bullish rally.
In a new tweet, Smart Contracter tells its 86,700 followers that Bitcoin is slowly warming up as buyers continue to defend support of around $ 30,000.
“Ooof, nice buyback at BTC here, I’m long, but it kind of ruins mah old bags. I think the run to $ 50,000 has started.”
The trader adds that the prevailing bearish sentiment regarding the leading crypto asset is a bottom indicator.
“In my opinion, the BTC floor will be back very soon, and all bear fucks are asking for $ 20,000 again.”
Smart Contracter also deals with Ethereum (ETH). He says the leading smart contract platform has a leg down due before launching the next phase of its bull market.
“This is my new roadmap for ETH.
Do i think it’s over? No.
Do I think it goes deeper than higher? Yes.
$ 1,200 is the sweet spot in my opinion. “
The analyst also monitors the price development of the DeFi credit platform Cream. He notes that Cream has broken out of consolidation and is on its way to printing a new all-time high at $ 250, up 44% from the current price of $ 173.
“CREAM looks so good now, new heights. It is inevitable. “
Smart Contracter is also optimistic about the blockchain scaling solution Matic Network (MATIC) and Akropolis (AKRO), a DeFi protocol designed to build decentralized and autonomous community economies. He believes that both crypto assets have broken out of consolidation and are ready to appreciate in value.
On the subject of SushiSwap (SUSHI), Smart Contracter says the decentralized exchange has printed a short-term top, with the possibility of falling to around $ 4.
“I’m not going to lie, this looks like a straight candle on SUSHI.”
The trader is bearish at Litecoin too. He predicts that the eighth largest crypto asset is poised to continue its correction and recheck support below $ 100.
“Canary in the coal mine?”
Co-analyst Michaël van de Poppe is less optimistic on the crypto markets in the short term.
He believes Bitcoin is likely to face another significant drop below the $ 30,000 level that the altcoin market will bring.
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Featured image: Shutterstock / Camilkuo