Lido DAO

Bitcoin

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 <p>A widely followed crypto trader who accurately predicted the bottom for Bitcoin (BTC) in 2018 believes that one altcoin is on the verge of a massive move to the upside.</p>
 <p>Pseudonymous analyst Bluntz tells his 228,700 followers on the social media platform X that liquid-staking service provider Lido DAO (LDO) is ready to soar after a retest.</p>
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 <p><em>“Perfect retest on LDO and nice three-wave move from the highs. This one is gonna send so hard when BTC catches a bid again.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F-7COBlawAAfsje?format=jpg&amp;name=medium" alt="Image" width="1200" height="389">
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   Source: Bluntz/X
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 <p>Bluntz utilizes the Elliott Wave theory in his technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>. The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while the correction happens in a three-wave pattern.</p>
 <p>The trader turned bullish on LDO earlier this month.</p>
 <p>Lido is trading for $2.44 at time of writing, up 2.5% in the last 24 hours.</p>
 <p>The trader also says that he is optimistic about the broader crypto market after a decline in the US dollar index (DXY), which keeps track of the USD’s value compared to a basket of foreign currencies. A weaker dollar often suggests strength in risk assets like Bitcoin.</p>
 <p><em>“DXY got slaughtered today. Would say I’m surprised, but I’m not really. [DXY is] going much lower. Don’t underestimate how GOOD this is for crypto.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F-617VaaUAAlL_N?format=jpg&amp;name=large" alt="Image" width="1575" height="1708">
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   Source: Bluntz/X
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 <p>Earlier this month, the trader said the DXY appeared to have reached a market top and predicted the DXY would decline to 98 by May 2024, giving a boost to risk assets like Bitcoin. The DXY is at 104.38 at time of writing.</p>
 <p><em>“DXY showing signs of distribution here while equities look like they may have finally found a bottom and crypto is almost certainly risk on again. If DXY has topped like I suspect and starts trading back under the range and below 105, the next six months will be great for risk assets.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F94YFthb0AAPmSg?format=jpg&amp;name=large" alt="Image" width="1951" height="883">
  <figcaption class="wp-caption-text">
   Source: Bluntz/X
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/top-trader-who-nailed-2018-bitcoin-bottom-says-one-catalyst-could-send-ethereum-based-altcoin-rallying-hard-tbt70529.html">https://thebittimes.com/top-trader-who-nailed-2018-bitcoin-bottom-says-one-catalyst-could-send-ethereum-based-altcoin-rallying-hard-tbt70529.html</a></p>

Top Trader Who Nailed 2018 Bitcoin Bottom Says One Catalyst Could Send Ethereum-Based Altcoin Rallying ‘Hard’

TheBitTimes

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