- Cheeky Crypto argues that BTC has assist ranges at $50,798 and $51,219.
- The analyst anticipates a Bitcoin rebound, focusing on costs within the $55k vary.
- Nevertheless, he lacked confidence in HBAR’s skill to maintain its bullish trajectory.
In a latest market evaluation on the Cheeky Crypto YouTube channel, an analyst mentioned the potential for Bitcoin to surpass the $55,000 threshold. He examined BTC’s candlestick patterns within the four-hour timeframe.
Following the examination, the analyst highlighted that Bitcoin now has a assist stage of round $51,219, contemplating BTC’s 50-day easy shifting common. On the similar time, he proposed that if the $51,219 assist fails to endure, the main target might shift to the 50-day exponential shifting common (50EMA). This 50EMA supplies a further assist stage for BTC at $50,798.
In addition to, he recognized the presence of a midlevel pattern line, beforehand a resistance space that has now remodeled into assist. With these elements in play, the analyst anticipates a Bitcoin rebound. Particularly, the Cheeky Crypto presenter set his sights towards the $54,755 areas and past for BTC. Notably, Bitcoin presently hovers round $52,190.
Moreover, contemplating the projected targets, the analyst famous that the commerce alternative is to open a protracted place for Bitcoin at its present market value. He urged viewers to set a step loss on the decrease assist threshold of $50,798.
Additionally, the analyst identified that this level affords a risk-reward ratio of roughly 1.87. Moreover, he cautioned towards rising the danger of being liquidated by lifting the stop-loss too excessive.
In a parallel evaluation session, the analyst on the Cheeky Crypto channel assessed the potential for Hedera Hashgraph (HBAR) to maintain its bullish momentum. Notably, HBAR has surged by over 30%, shifting from $0.08068 to $0.1171 over the previous seven days.
HBAR seven-day chart | CoinMarketCap
Contemplating HBAR’s latest bullish efficiency and a noticeable retracement, the analyst expressed a insecurity within the asset’s skill to maintain its bullish trajectory.
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