It’s been just revealed that a really popular crypto analyst and strategist predicted an upcoming massive Bitcoin rally. He also offered a prediction about Ethereum and two altcoins.
The online publication the Daily Hodl notes that Bitcoin (BTC) has likely printed a local bottom and is now gearing up to ignite a rally.
“I’m ignoring the wick for the Elliot Wave count, so this is a simple impulse + ABC correction. Based on this, heatmaps, and fundings… the only way is up.”
The trader Capo is reportedly using the Elliott Wave theory. This is a technical analysis approach that predicts future price action by following the psychology of market participants that manifests in waves.
This theory says that the asset is ready to resume its trend after completing an ABC corrective move.
Bitcoin buyers are eager to get the king coin
Capo is also looking at the aforementioned tool to determine the depth of liquidity in the market.
According to the crypto strategist, the heatmap is currently showing that Bitcoin buyers are eager to hop on the king crypto.
“Just by looking at some heatmaps, you can tell how bullish things are looking. Demand is very strong and very little supply. I expect $70,000+ soon, and $100,000+ this year.”
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $63,174.
Ethereum is rallying
The same crypto analyst also said that ETH/BTC is on its way to new ATHs.
“What BTC maxis don’t want to see.”
He is also looking at the path of COTI: “COTI bouncing from support (previous all-time high).”
Another project that the trader is analyzing these days is the decentralized machine-learning network Fetch.ai (FET).
Capo predicts FET will surge above $1 in the short-term – this means a potential upside of at least 26% from its current value of $0.79.
“FET going as expected.”
Stay tuned for more news.