Cryptocurrency strategist with nickname Smart Contracter considers, that Bitcoin is almost ready to recover. He also indicated a potential bottom for Ethereum
According to him, bitcoin gives signals, that the correction is almost complete:
"So far, there are no signs of an immediate reversal., but I suppose, that we saw the final volumes of surrender. In my opinion, in the event of a worst-case scenario, the BTC rate should rebound sharply to $63 000. The most positive scenario – this is a new historical maximum"
Smart Contracter uses Elliott wave theory, predicting the future movement of the course based on the psychology of market participants, which manifests itself in the form of waves. According to his schedule, BTC has completed a 5-wave corrective movement and is now ready for a new round of growth.
Regarding Ethereum, the analyst believes, that the asset will continue to correct. He specified the levels, from which ETH can bounce:
"I have some concerns about the medium-term prospects of ETH.. I will try to open long positions in the case of, if the surrender develops to a range $3600 – $3800. I sold some of ETH's inventory, but even if I'm wrong, then it is better to play it safe, than regret"
Another cryptanalyst with the nickname Credible also believes, that Ethereum is waiting for a downward movement:
“I think, that the bottom is already close. Maybe, we are waiting for the update of local minimums at the level of $3800 and another round of downward movement"
