AVAX is about to hit ATH as Bitcoin is flashing a trend reversal signal

One analyst says he’s bullish on an ETH competitor and predicts a possible Bitcoin trend reversal.

Smart Contracter follows the price development of the smart contract platform Avalanche (AVAX).

According to him, after the correction pattern is completed, AVAX is preparing for a strong rally.

“When altcoins are in the spotlight, I follow AVAX. Not only did it have a very strong reaction from the key 0.618 level, but the move down from the highs drew a corrective three-wave ABC pattern. Expect AVAX to outperform many altcoins and possibly even hit all-time highs.”

The source: Smart Contractor

Smart Contracter is an analyst who prefers Elliott Wave Theory. This is an analytical technique that predicts future price movements by following crowd psychology, which tends to manifest itself in waves. According to Elliott Wave Theory, the uptrend is likely to resume after the asset completes the ABC correction.

Looking to Bitcoin, the analyst says the crypto king is showing signs of strength after attempting to close above the diagonal resistance line that has held the price since November.

“Close the day firmly above the downtrend line. First signs of a bullish market structure in almost three months.”

The source: Smart Contractor

Smart Contracter Is Long-Term Bullish On Bitcoin. As BTC threatened to breach the $30,000 support last month, the strategist predicted a price rally above $100,000 this year.

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