A widely respected cryptocurrency analyst and trader believes that one type of cryptocurrency asset is about to collapse.
Analyst known by the pseudonym Credible Crypto says 391,500 followers on social media platform
“Despite BTC hitting new all-time highs, there is still a lot of salt in this space. Mainly because memes are the ‘only’ alternative content that has become popular over the past few months. ‘This cycle is definitely different. We often hear things like, “It’s a meme super cycle,” and “The basics aren’t important.” Many people have lost hope in non-meme alternative assets, and meme responders couldn’t be more vocal.
three:
1. We’re going to go much higher throughout this market.
2. The meme reckoning is coming.
3. As time passes, other assistant employees will also take their turn.”
Next is the analyst Called Bitcoin (BTC) could retest the sub-$60,000 range before breaking above the upper trendline resistance.
“And then there’s our drop. Ideally it’s not over yet as I’d like to see us get a little lower from here before a reversal. “We are waiting to see how the situation unfolds.”
Bitcoin is trading at $64,496 at the time of writing and has risen slightly over the past 24 hours.
Finally, the analyst Called Ethereum (ETH) competitor Hedera (HBAR) could rise more than 90% from its current value.
“I’m looking for something like this after completing a nice five-wave impulse in the low range. The first step is to break the lower period market structure to get things started. “If we can make a higher low after that, we can get back to the high point.”
Hedera is trading at $0.11 at the time of this writing, down more than 2% in the last 24 hours.
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