A crypto strategist who has built his huge following with good Bitcoin predictions said he expects both BTC and Ethereum to rise.
The pseudonymous analyst Smart Contractor told his Twitter followers that a sustained bounce is looming for Ethereum after the leading smart contract platform managed to hold above the 0.618 Fibonacci level.
Nice move from 0.618 on ETH, looks good for a move to around $1,400.You can definitely tell that volatility is coming down as it took bounce days to actually get a decent bounce off that level.
At the time of writing, Ethereum is trading around $1,142, down slightly for the day.
Looking at Bitcoin, Smart Contractor said BTC also had a good reaction around the 0.618 fib zone, which he noted bodes well for the leading cryptocurrency.
Beautiful reaction from 0.618 BTC to the close of the day itself. It pays to have a plan and stick to it.
The largest cryptocurrency’s reaction above the 0.618 fib level is in line with Smart Contractor’s view that BTC is preparing for a rally. At the time of writing, Bitcoin is trading around $20,200
Late last month, the analyst said Bitcoin traders appear to be piling into the asset and he expects a bounce to at least $24,000.
With each passing day, BTC is starting to look more and more like an accumulation. I’m planning a max bid around $19,000, whether that’s the final bottom or just mid-term, I’m not sure yet, but I think we’ll get to $24,000 minimum.