A popular crypto trader thinks it’s likely that Bitcoin (BTC) will continue its bullish momentum all the way to $50,000.
Pseudonymous analyst Credible tells his 319,000 Twitter followers that BTC has already broken through the highs of its “B wave” or the first upthrust of a triangle structure.
“We’ve broken the highs of our B wave, indicating that the triangle likely already completed earlier. Areas of interest are the same (green regions) if we get any dips, but as stated in my last video update at this point we may just shoot up straight to $50,000+”
He adds that he doesn’t anticipate any big corrections in the short-term future.
BTC is trading at $47,196.69 at time of writing and is up nearly 15% from where it was priced one week ago.
Credible is also bullish on Hedera Hashgraph (HBAR), a public network for peer-to-peer payments.
“HBAR looking real perky. Clear RED on the weekly for confirmation that our bottom is in – the same level I have been talking about for months. I’ve said before that I thought the bottom was in and that we just needed confirmation – closing above RED (weekly) confirms this in my opinion.”
HBAR is trading at $0.23 at time of writing.
Additionally, the analyst is predicting big things for Convex Finance (CVX), an Ethereum-based protocol built on top of stablecoin exchange Curve Finance (CRV).
“Already up 100%+ off the lows, next immediate area of interest/resistance is around $40 where I think we may see a bit of a pullback.”
CVX is trading at $30.39 at time of writing.
Credible Crypto also feels optimistic about CRV itself. The analyst says if CRV can break through its current resistance level, it could surge all the way up to the $4.50 range.
CRV is trading at $2.66 at time of writing.
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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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