Crypto Analyst Who Nailed 2018 Bitcoin Bottom Issues Warning, Says BTC and One AI Altcoin To Dive Lower

A crypto trader who accurately called 2018’s Bitcoin (BTC) bottom expects the flagship crypto asset to fall in the near term.

Pseudonymous analyst Smart Contracter tells his 220,800 Twitter followers that Bitcoin could drop to a lower high amid waning momentum.

“Momentum waning and distribution probably underway on BTC, expecting a slow choppy grind up to $24,000 and ultimately another lower high.

Go touch some grass, don’t fall into the trap of longing every hourly reversal candle expecting a big move.”

Based on the chart illustrated by the crypto analyst believes Bitcoin could drop to just above $20,000 after completing a three-wave correction pattern that began late last month.

According to the Elliott Wave theory, the main trend of an asset’s price moves in a five-wave pattern while a correction occurs in a three-wave pattern.

Source: Smart Contracter/Twitter

Bitcoin is worth $23,783 at time of writing.

Smart Contracter is also expressing bearish sentiment on the decentralized artificial intelligence ecosystem Fetch.ai (FET).

FET looks done here, one of the strongest altcoins over the last three months which did over 10x from the lows.”

Based on a chart illustrated by the pseudonymous crypto analyst, Fetch.ai could retrace by nearly 50% from current levels in a three-wave correction pattern that started in February.

Source: Smart Contracter/Twitter

Fetch.ai is trading at $0.476 at time of writing.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney