A crypto strategist who gained his massive following via accurate Bitcoin forecasts anticipates rises for both BTC and Ethereum (ETH).
Smart Contractor, a pseudo-analyst informs his 208,700 Twitter followers that a prolonged Ethereum rally is imminent after the major smart contract platform remained above the 0.618 Fibonacci threshold.
“The jump from 0.618 on ETH to about $1,400 seems promising. It took many days for a meaningful rebound to occur from this level, which indicates that volatility is diminishing.” At the time of writing, the price of Ethereum is $1,134, a decrease of almost 1 percent on the day.
Smart Contractor adds that Bitcoin had a positive response at the 0.618 Fibonacci level, which speaks well for the largest cryptocurrency by market capitalization.
“Beautiful response from the 0.618 level on BTC leading up to the daily close. It is advantageous to establish a strategy and carry it through.”
Bitcoin’s response above the 0.618 Fibonacci level is consistent with Smart Contractor’s prediction that BTC is preparing for an upswing. The expert said at the end of last month that Bitcoin dealers looked to be holding BTC and that he anticipated a price increase to at least $24,000.
“BTC seems more and more like accumulation every day. I’m still undecided as to whether the maximum offer will be between $19,000 and $19,000, or whether it will be a mid-term bottom, but I believe we’ll get at least $24,000.”