A prominent analyst predicts an epic rally for Polkadot (DOT) in 2022 while anticipating a strong Bitcoin (BTC) rally.
Known in the industry by the nickname Capo, he told his 220,800 Twitter followers that he sees the interoperable blockchain Polkadot grow 2.471% from its current price of $ 26.25 by May next year.
“DOT chart unchanged, trend still upwards and target the same.”
The source: Capo / Twitter
Capo makes his predictions using Elliott Wave Theory, a technical analysis method that predicts future price movements by analyzing the sentiment of the crowd across each wave. According to Capo’s chart, DOT is in long-term wave 3 and will hit $ 250 before a major correction. After that, wave 5 can bring the DOT to $ 675.
Looking at Bitcoin (BTC), Capo believes BTC is very close to a local low.
“These two adjustments are very similar.
– Same 3-wave movement pattern
– Same floor structure (3 touches)
– Same negative funding + premium rate
– There is a hidden bearish divergence ahead of the recent decline. ”
The source: Capo / Twitter
According to Capo’s chart, Bitcoin’s correction below $ 46,000 on December 13th helped complete a floor structure and the price will soon climb back above $ 60,000.
As for Ethereum (ETH), the crypto analyst on the leading smart contract platform is bullish as long as he avoids a weekly close below $ 3,900.
“Since the decline in March 2020, ETH has formed a perfect uptrend with successive higher lows and is now testing the previous high as a support again. That is very optimistic. ”
The source: Capo / Twitter
You can see the coin prices here.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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.
Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page
Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…
As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…
With the crypto market reaching new peaks, many are eager to discover digital currencies poised…
XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…
Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…
There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…
This website uses cookies.