A popular cryptocurrency analyst and trader, Bitcoin (BTC) While saying that it may have hit rock bottom, he claimed that a secluded altcoin could hit over 7000 percent.
The crypto trader known as Capo started his comments with BTC. The analyst told his 222,200 Twitter followers that the flagship cryptocurrency has seen a surge in buy orders on crypto exchange Bitfinex.
According to Capo, this heavy buying on Bitfinex is a sign that Bitcoin has reached a critical support level. indicator:
“Bitfinex’s massive wall of purchases remains in place. This has often been a bottom signal.”
good morning.
Bitfinex massive buying wall is still there. This has usually been a bottom signal. pic.twitter.com/cNROuxZtNa
— il Capo Of $NOIA (@CryptoCapo_) December 17, 2021
According to Capo’s chart, Bitfnex users place large buy orders between $45,000 and $44,000. At the time of writing, Bitcoin is trading at $47,030.
after BTC to Hathor (HTR) Returning Capo says the fundamentals of this little-known crypto asset are “really good.” With its native token currently at #214 by market cap, Hathor is a scalable, free blockchain designed for real-world tokenization use cases.
Applying the Elliott Wave theory, the crypto analyst and trader expects a staggering 7146 percent increase for HTR by the second quarter of 2022 and predicts that the altcoin will rise above $100 in the new year.
“HTR
Excellent parabolic formation and the third wave looks set to expand.
If all goes as expected, I can see this going to exceed $100.
The basics are really good.”
Perfect parabolic formation, and wave 3 looking ready to extend.
I can see this one passing $100 if everything goes as expected.
Fundamentals are really good. pic.twitter.com/x6xdESVAfR
— il Capo Of $NOIA (@CryptoCapo_) December 16, 2021
Elliott Wave theory is a technical analysis approach that tends to manifest in waves and predicts future price movements by following the psychology of market participants.
According to Capo’s chart, HTR is poised to experience a massive third wave rally to reach $40 first. According to the analyst’s theory, the altcoin will then undergo a deep correction and break above $100 in a parabolic fifth wave to complete its cycle.
According to CoinGecko data, Hathor (HTR) is trading at $1.50 at the time of writing.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.