A crypto analyst known for accurately calling Bitcoin’s bottom in 2018 is issuing an alert on BTC’s short-term trajectory.
The pseudonyous analyst Smart Contracter says BTC appears ready to retrace, and he’s stepping out of the market.
The trader, who is known for using Elliot wave theory as a primary technique, believes BTC could easily drop to $22,000 in the short-term.
“Fuck it, I’m out and chillin in stables for now. Was a good start to the month but I reckon BTC sweeps $22,000 and fuck knows what that will do to alts.”
Smart Contracter is also noting potential strength for the dollar, which just bounced above a historic level of support and resistance.
that weekly SFP on $DXY is straight up ringing alarm bells to me.
Im stabled up, good luck out there. pic.twitter.com/5WI5pbttkQ
— Bluntz (@SmartContracter) February 3, 2023
Fellow analyst Michaël van de Poppe says Bitcoin could logically find a healthy way to correct all the way back to $20,000.
However, using the notion that markets tend to shift in directions that inflict the most amount of pain,…
