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

• Cheeky Crypto argues that BTC has support levels at $50,798 and $51,219.
• The analyst anticipates a Bitcoin rebound, targeting prices in the $55k range.
• However, he lacked confidence in HBAR’s ability to sustain its bullish trajectory.

In a recent market analysis on the Cheeky Crypto YouTube channel, an analyst discussed the potential for Bitcoin to surpass the $55,000 threshold. He examined BTC’s candlestick patterns in the four-hour timeframe.

Following the examination, the analyst highlighted that Bitcoin now has a support level of around $51,219, considering BTC’s 50-day simple moving average. At the same time, he proposed that if the $51,219 support fails to endure, the focus could shift to the 50-day exponential moving average (50EMA). This 50EMA provides an additional support level for BTC at $50,798.

Besides, he identified the presence of a midlevel trend line, previously a resistance area that has now transformed into support. With these factors in play, the analyst anticipates a Bitcoin rebound. Specifically, the Cheeky Crypto presenter set his sights toward the $54,755 regions and beyond for BTC. Notably, Bitcoin currently hovers around $5…

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