Top Crypto Analyst Outlines Path Forward for Aave, Says Bottom Close for Bitcoin Before BTC Surges by Over 130%

A popular crypto analyst gives his opinion on what comes next for Bitcoin (BTC) and the Aave (AAVE) decentralized finance protocol.

The analyst, who goes by the pseudonym Smart Contracter, tells his 199,700 Twitter followers that Aave’s original token likely made a higher dip, indicating a possible rebound.

Cryptocurrency trader Says AAVE has reached a potential support level by touching the 0.618 Fibonacci retracement level, which is used to identify support or resistance levels.

Smart Contracter says that AAVE touched the level after it turned lower in a corrective 3-wave pattern that came after a bullish 5-wave pattern.

According to the Elliott wave theory, the dominant trend of the five-wave pattern continues after the corrective three-wave pattern.

Down to some AAVE here, those green shoots on the weekly chart turned into a nice five wave high on the daily chart, and now we exploited 0.618 and I think that is a higher low in the making.”

source: SmartContracter / Twitter

In the same tweet, the clever contractor illustrates the five wave pattern of Aave’s uptrend and the smaller triple wave pattern heading lower. According to the pseudonymous crypto analyst, AAVE could rise against the US dollar and bitcoin next.

Keeping Bitcoin Could Hit $100,000 in 2022, Smart Contractor Says That the main cryptocurrency could drop to $37,500.

Bitcoin is trading at $42,450 at the time of writing, and hitting the six-digit price would require a price increase of just over 135%.

For every smart entrepreneur, a bear market can beginning Soon after Bitcoin reached a price of over $100,000.

“I think BTC is falling anywhere between now and $37,500 and gives us a structure similar to what we saw in 2019 only on a larger time scale, with up to $100,000 still on the table for 2022 in my opinion.

After $100,000 + then we enter [the] An extended bear market zone similar to 2018.”

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source: SmartContracter / Twitter

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