A widely-followed analyst who accurately predicted the Bitcoin (BTC) low point in the second half of 2018 is detailing bullish prospects for two crypto assets.
Pseudonymous crypto analyst Smart Contracter tells his 206,200 Twitter followers that he has purchased Dogecoin (DOGE) following a slight correction and a surge in buying volume.
Dogecoin is on an upward trajectory after breaking out of a downward-sloping trendline on the daily chart, according to Smart Contracter’s charts.
“Longed some Dogecoin on this pullback today after yesterday’s strong breakout on volume. Been a while since I have owned a meme coin but I’m here for it.”
The trader is also optimistic on a cross-chain protocol that enables the transfer and swapping of assets across Ethereum (ETH) and other smart contract-enabled blockchains, Synapse (SYN).
The trader says that Synapse could give returns of more than 100% after already appreciating by over 50% in seven days when paired against Ethereum.
“SYN now +50% in a week and hasn’t even broken out yet. This could easily turn into a multi-bagger.”
According to Smart Contracter, Synapse is on an uptrend after undergoing a three-wave correction based on the Elliott Wave theory. The Elliott Wave Theory states that the main trend adopts a five-wave pattern while a correction takes on a three-wave pattern.
In June of 2018 when Bitcoin was trading at over $5,700, Smart Contracter accurately predicted that the flagship cryptocurrency would bottom out at around $3,200, give or take $200.
Six months later, Bitcoin hit a low that it has yet to breach again of $3,156.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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