A well-known crypto trader, who accurately predicted the bottom for Bitcoin in 2018, is now bullish on an altcoin called Lido DAO (LDO). The trader, known as Bluntz, believes that LDO is on the verge of a significant upward move after a retest. Bluntz utilizes the Elliott Wave theory in his technical analysis, which suggests that the price of an asset moves in a five-wave pattern followed by a three-wave correction. Lido DAO is currently trading at $2.44, up 2.5% in the last 24 hours. Bluntz is also optimistic about the broader crypto market due to a decline in the US dollar index (DXY), which tracks the value of the USD against a basket of foreign currencies. A weaker dollar often indicates strength in risk assets like Bitcoin. Bluntz believes that if the DXY continues to decline and trades below 105, the next six months will be favorable for risk assets. He previously predicted that the DXY would decline to 98 by May 2024, providing a boost to assets like Bitcoin. It’s important to note that the opinions expressed by Bluntz are not investment advice, and investors should conduct their own research before making any high-risk investments in cryptocurrencies or digital assets.