A popular crypto strategist says Bitcoin (BTC), Terra (LUNA), and one other low-cap altcoin are preparing for their next moves up.
Pseudonymous crypto analyst Capo tells his 229,500 Twitter followers that he expects an upcoming “spring” movement from Bitcoin, the largest crypto asset by market cap.
“Still expecting that ”spring” movement before the start of the mark-up.”
The trader’s chart refers to the Wyckoff method for technical analysis, an approach that aims to identify when large investors are accumulating or selling an asset. An accumulation pattern highlights a period where institutional investors are controlling an asset’s price to buy at discounted prices.
According to the trader, BTC’s current value of $46,822 places Bitcoin right around the zone where a price “spring” should occur, driving BTC upwards.
As for smart contract platform Terra (LUNA), which has exploded over 13,000% in value since January 2021, the trader sees LUNA consolidating around the $75 range before making another price jump.
Terra is trading at $87.06 at time of writing, down 4.79% on the day.
Finally, Capo foresees low-cap smart contract platform Hathor (HTR) making huge gains in the coming months.
Hathor is a scalable cryptocurrency alternative combining direct acrylic graph technology with decentralized blockchain technology. Hathor is a proof-of-work blockchain designed for real-world tokenization use cases.
Capo highlights the $2.08 range as key resistance for the little-known blockchain. Beyond that range, Capo only sees HTR moving upwards.
Hathor is currently trading at $2.10, down 2.32% on the day.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Sergey Nivens/Webuz/Nikelser Kate