A prominent analyst believes Bitcoin (BTC) and Ethereum (ETH) are facing major breakouts amid bearish sentiment in the digital asset market.

The person known in the industry as smart contracts told its 154,900 followers that Bitcoin is forming a bullish pattern, suggesting an uptrend is approaching.

“I see Bitcoin making a higher low in a bullish flag pattern. I’m still optimistic about BTC at the moment. “

Source: Smart Contracter / Twitter

According to the smart contracts chart, Bitcoin must break the pattern resistance at USD 35,000 to trigger a rally to USD 40,000.

Turning to Ethereum, the analyst believes ETH hit a higher low at $ 2,000 in an uptrend and is now ready to rebound to $ 3,000, a 40% gain.

“ETH / USD has completed 5 bullish waves and an ABC correction. I think the pair will make a higher low and will continue to rise from here. However, if there is an interruption of $ 1,650, this view will be void. “

Source: Smart Contracter / Twitter

Smart contracts use Elliott wave theory to predict future price movements. According to him, ETH has completed an ABC correction and is now ready to start a new wave.

The crypto strategist is also watching the decentralized financial sector (DeFi), which he thinks outperforms the rest of the market. The analyst added that he is keeping an eye on four altcoins in this area.

“DeFi has held up strong during the BTC decline.

It’s like the fastest horse right now.

SUSHI (SushiSwap), SNX (Synthetix), Aave, UNI (Uniswap) ”.

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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According to Dailyhodl

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