One popular crypto analyst thinks Bitcoin (BTC) is on the verge of a rebound while plotting paths for two altcoins.
The pseudonymous analyst known as Credible Crypto tells his 300,700 Twitter followers that BTC might hit one more local low before surging back to $40,000 “in the coming days.”
“Then comes the big monthly close.”
Bitcoin is trading at $36,833.16 at time of writing, up 0.33% in the past 24 hours.
Credible Crypto also expects the decentralized finance (DeFi) altcoin Curve DAO Token (CRV) to rebound.
“Repeated sweeps of our lows into weekly demand/support is nice to see. We have just printed a classic bullish div on the daily, would expect to see relief to $4-$4.50 soon.
That is also the region that we MUST reclaim to confirm that our bottom is in.”
CRV is the governance token of stablecoin-focused decentralized exchange Curve Finance. The 85th-ranked crypto asset by market cap is trading at $2.90 at time of writing, down nearly 3% in the past 24 hours.
Credible Crypto notes that HBAR, the native token for the decentralized public network Hedera Hashgraph, has displayed some interesting price action like CRV.
“HBAR on its first major breakout from its own accumulation range (like CRV). We broke out and hit .07 then immediately dumped back to .03 before going 11x.
Crypto is volatile. If you’ve been here for a few months you know this.
If you can’t handle volatility, don’t buy crypto.”
HBAR, the 35th-ranked crypto asset by market cap, is trading at $0.210971 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 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.
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