A prominent analyst gives his opinion on what will happen next for Bitcoin (BTC) and the Aave Decentralized Financial Protocol (AAVE).

Nicknamed the Smart Contracter, the analyst told his 199,700 Twitter followers that the Aave platform’s native token is likely to hit a higher low and set the stage for a rally.

According to the smart contracter, AAVE has reached a critical level of support created by the 0.618 Fib retracement level which is the right place to start a rally.

“Buy a little more AAVE here, the green candles on the weekly chart have turned into a bullish 5-wave impulse on the daily chart, now it is at 0.618 and I think it will make a higher low here . this “.

The source: SmartContracter / Twitter

In the same tweet, smart contracter illustrates Aave’s smaller five-wave uptrend and three-wave downtrend. According to the analyst, AAVE could go higher in the near future.

While there is a possibility that Bitcoin could hit $ 100,000 by 2022, smart contracter says the leading cryptocurrency could plunge as low as $ 37,500.

BTC is trading at $ 42,150 at press time, and reaching the six-digit price would require a price increase of just over 135%.

According to the smart contracter, a bear market could begin as soon as Bitcoin hits a price above $ 100,000.

“I think BTC will bottom somewhere between the current price range of $ 37,500, giving us a structure similar to that of BTC in 2019. In my opinion, BTC will hit the $ 100,000 level by 2022.

It will then enter an expanded bear market like 2018. “

The source: SmartContracter / Twitter

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