A crypto strategist and trader who built his following after accurately predicting Bitcoin’s bear market bottom in 2018 says BTC is poised to reignite its bullish rally.
In a new tweet, Smart Contracter tells his 86,700 followers that Bitcoin is starting to heat up as buyers continue to defend support around $30,000.
[adinserter block="1"]“Ooof, nice buyback on BTC here, I’m long but it’s kinda ruining mah alt bags though. I think the run to $50,000 has begun.”
The trader adds that the prevailing bearish sentiment on the leading crypto asset is a bottom indicator.
“BTC bottoms again very soon in my opinion, plus all the bear cucks are out again calling for $20,000.”
Smart Contracter is also looking at Ethereum (ETH). He says the leading smart contract platform is due for one leg down before it launches 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’s coming deeper before higher? yes.
$1,200 is the sweet spot in my opinion.”
The analyst is closely watching the price action of decentralized finance (DeFi) lending platform Cream as well. He notes that Cream has broken out of consolidation and is en route to printing a new all-time high at $250, which represents a 44% rise from its current price of $173.
[adinserter block="1"]“CREAM looking so good, new highs any time now. It’s inevitable.”
Smart Contracter is also bullish on blockchain scaling solution Matic Network (MATIC) and Akropolis (AKRO), which is a DeFi protocol that seeks to build decentralized and autonomous community economies. He believes that both crypto assets have broken out of consolidation and are poised to surge in value.
As for SushiSwap (SUSHI), Smart Contracter says the decentralized exchange has printed a short-term top with a possibility to plummet to around $4.
“Not gonna lie, this looks like a straight up top candle on SUSHI.”
The trader is bearish on Litecoin as well. He predicts that the eighth-largest crypto asset is primed to continue its correction and revisit support below $100.
“Canary in the coalmine?”
Fellow analyst Michaël van de Poppe is less bullish on the crypto markets in the short term.
He believes Bitcoin is likely facing one more significant pullback below the $30,000 level that will drag down the altcoin market along with it.
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[adinserter block="1"]
Featured Image: Shutterstock/camilkuo
