A popular analyst is making the case for an enterprise-grade altcoin that’s focused on security and regulatory compliance while also keeping an eye on top crypto Bitcoin (BTC).
Pseudonymous trader Credible Crypto tells his 309,500 Twitter followers that he’s bullish on Hedera (HBAR) with a chart highlighting the weekly demand for HBAR in sequences of three “drives” dating back to March of last year.
“History doesn’t repeat, but it often rhymes…”
When pressed by a follower for more clarity, Credible explains that he expects demand to outpace supply and raise Hedera’s price.
“Multiple sweeps of key HTF [high time frame] swing lows into the same region indicate buyers are stepping in to buy the dip in that region and when demand exceeds supply during a correction we get a reversal.”
The crypto guru was also asked about HBAR’s “stagnant” price, to which he replies,
“Consolidation precedes expansion.
Doesn’t matter what they do, once we break out speculators will come and take care of the rest.”
Hedera is currently the #35 crypto asset by market cap. At time of writing, it’s up less than a percent on the day and trading for $0.26.
Moving on to Bitcoin, Credible follows up on a tweet from Monday that addresses BTC’s sideways price action.
The chart guru says he thinks Bitcoin is primed to break past $45,000 next.
“Nice break over the red region overnight – I suspect we head back up to $45-47k from here.”
Bitcoin is trading even at time of writing, priced at $44,142. It’s maintained the $40,000 level for 12 days in a row.
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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 losses 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.
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