Analyst Capo highlights an altcoin that could rebound over 7,000% while Bitcoin may have bottomed out.

Starting with BTC, Capo says the leading cryptocurrency receives a large number of buy orders on the Bitfinex crypto exchange.

According to him, the strong buying pressure on Bitfinex is a sign that Bitcoin has reached a critical level of support.

“Bitfinex’s massive buywall is still there. This is usually a ground signal. “

The source: Capo / Twitter

According to the graphic above, Bitfnex users are placing large purchase orders in the price range of $ 45,000 to $ 44,000. At the time of writing, Bitcoin is trading at $ 45,900.

Speaking on Hathor (HTR), Capo says the fundamentals of the little-known asset are “really good.” Hathor, whose native token currently ranks 210th by market capitalization, is a scalable, low-cost blockchain designed for real-world crypto use cases.

Using Elliott Wave Theory, the analyst predicts that HTR will climb a staggering 7,146% above $ 100 by the second quarter of 2022.

“HTR: Perfect parabolic formation and wave three looks like it’s ready to extend. I could see the price break the $ 100 mark if everything goes as expected. The basics are really good. ”

The source: Capo / Twitter

Elliott Wave Theory is a method of technical analysis that predicts future price movements by closely tracking the sentiments of market participants as they manifest themselves in waves.

According to Capo’s chart, HTR is preparing to trigger a major rally from wave 3 to around $ 40, followed by a deep correction before parabolic wave 5 rises above $ 100 to end its cycle.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page