Smart Contracter, a widely followed crypto analyst who accurately predicted the declines of the Bitcoin (BTC) bear market in 2018, made key statements. The analyst thinks that a strong BTC bounce is in sight.
Bitcoin (BTC) predictions are wrong
Veteran crypto analyst Smart Contracter tells his Twitter followers that the leading cryptocurrency Bitcoin is in the middle of a five-wave downtrend in the lower time frame. The popular crypto strategist sees BTC spark a rally this week with a target of around $45,000. The master analyst uses the following statements on this subject:
BTC is currently in a five-wave decline in 4 hours. So a nice relief splash of up to $45,000 is expected in the coming days.
Smart Contracter is known for keeping his previous Bitcoin predictions. The crypto strategist says he is optimistic about BTC. However, the analyst warns that the rally in Bitcoin will be short-lived. Smart Contracter states:
Further downside in Bitcoin, new key support appears at $37,000 – $38,000.
Bitcoin jumps at 44K
Popular crypto analyst Smart Contracter, during his analysis, follows the psychology of market participants, which tend to manifest in waves. The analyst bases his predictions on the Elliott Wave theory, which is a technical analysis approach that predicts future price action.
The leading cryptocurrency Bitcoin is trading at $41,430, up 4.46% in the last week at the time of writing. Smart Contracter also predicts that Bitcoin will start its corrective action once the market sentiment turns bullish. Smart Contracter, whose analysis we, as Kriptokoin.com, closely follow about Bitcoin and the crypto money market in general, reveals the following on this subject:
We were dumped. Now comes the quick bounce that turbo-raised everyone around $44,000 again… Daily BTC looks really nice now for a 15 percent bounce, we took our long positions before we even wicked. I don’t think it’s too long.
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