The Wyckoff method is a five-step method of market analysis for decision making. It aims to identify when large investors are accumulating or selling an asset. An accumulation pattern highlights a period where institutional investors are controlling an asset’s price to buy at discounted prices.
BTC’s current value of $46,278 would put Bitcoin around the “spring” zone, according to Capo.
Terra (LUNA)
The trader is also looking into smart contract platform Terra (LUNA), which has exploded over 13,000% in value since January 2021. Capo believes that LUNA will consolidate around $75 level before moving another leg up.
At the time of writing, LUNA is trading at $85.09 down 3% on the daily chart.
Hathor (HTR)
Lastly Capo is looking into low-cap smart contract platform Hathor (HTR) which he believes will soar in the coming months.
Hathor is a scalable cryptocurrency alternative combining direct acrylic graph technology with decentralized blockchain technology. It is a proof-of-work blockchain-based digital platform designed for lightweight financial transactions and contracts.
The analyst identifies $2.08 range as key resistance for HTR. Anything beyond that level is upwards, according to the Capo’s chart.
