A prominent analyst predicts an epic rally for Polkadot (DOT) in 2022 while anticipating a strong Bitcoin (BTC) rally.

Known in the industry by the nickname Capo, he told his 220,800 Twitter followers that he sees the interoperable blockchain Polkadot grow 2.471% from its current price of $ 26.25 by May next year.

“DOT chart unchanged, trend still upwards and target the same.”

The source: Capo / Twitter

Capo makes his predictions using Elliott Wave Theory, a technical analysis method that predicts future price movements by analyzing the sentiment of the crowd across each wave. According to Capo’s chart, DOT is in long-term wave 3 and will hit $ 250 before a major correction. After that, wave 5 can bring the DOT to $ 675.

Looking at Bitcoin (BTC), Capo believes BTC is very close to a local low.

“These two adjustments are very similar.

– Same 3-wave movement pattern

– Same floor structure (3 touches)

– Same negative funding + premium rate

– There is a hidden bearish divergence ahead of the recent decline. ”

The source: Capo / Twitter

According to Capo’s chart, Bitcoin’s correction below $ 46,000 on December 13th helped complete a floor structure and the price will soon climb back above $ 60,000.

As for Ethereum (ETH), the crypto analyst on the leading smart contract platform is bullish as long as he avoids a weekly close below $ 3,900.

“Since the decline in March 2020, ETH has formed a perfect uptrend with successive higher lows and is now testing the previous high as a support again. That is very optimistic. ”

The source: Capo / Twitter

You can see the coin prices here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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