Can Bitcoin Attain $55,000? What About Hedera Hashgraph (HBAR)?

• Cheeky Crypto argues that BTC has help 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 potential to maintain its bullish trajectory.

In a current 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 help degree of round $51,219, contemplating BTC’s 50-day easy shifting common. On the identical time, he proposed that if the $51,219 help fails to endure, the main target may shift to the 50-day exponential shifting common (50EMA). This 50EMA supplies an extra help degree for BTC at $50,798.

Apart from, he recognized the presence of a midlevel pattern line, beforehand a resistance space that has now reworked into help. 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 at present 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 worth. He urged viewers to set a step loss on the decrease help threshold of $50,798.

Additionally, the analyst identified that this level gives a risk-reward ratio of roughly 1.87. Moreover, he cautioned in opposition to 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 current bullish efficiency and a noticeable retracement, the analyst expressed a insecurity within the asset’s potential to maintain its bullish trajectory.