Top 3 Price Prediction Bitcoin, Ethereum, XRP: Crypto traders anticipate a new rally soon
- Bitcoin price shows strength as it maintains the $40,000 support zone.
- Ethereum price develops an entry that could yield a 27% gain.
- XRP price is poised to return to the critical $1 value area.
Bitcoin price action has spent the week developing a particularly nasty bear trap off a head-and-shoulders pattern. Ethereum price pulled back from the recent rally, but it has found support and shows signs of buyers returning to continue the push higher. XRP price has developed a near-identical reversal setup to Ethereum as Ripple targets a 20% gain.
Bitcoin price presents buying opportunity before BTC will breakout to $61,000
Bitcoin price action continues to offer an excellent long opportunity before the weekend. The theoretical long entry is a buy stop order at $44,000, a stop loss at $40,000, and a profit target at $61,000. The trade represents a 4.25:1 reward/risk with an implied profit target of over 40% from the entry. A two-box trailing stop would help protect any profit made post entry.
BTC/USD $1,000/3-box Reversal Point and Figure Chart
The theoretical long idea is invalidated if Bitcoin price has a daily or weekly close below the $39,500 value area.https://www.youtube.com/embed/0NNHTFD16oY?rel=0
Ethereum price targets a return to $4,000, wiping out short sellers in the process
Ethereum price, like Bitcoin and many other altcoins, has developed several bear traps. However, the most recent bear trap has generated a buying opportunity from a Point and Figure pattern known as a Pole Pattern. Pole Patterns are a more flexible pattern in Point and Figure charting, offering initial entries with inverse reversal setups simultaneously. One of those opportunities now exists for Ethereum.
A theoretical long setup for Ethereum price is a buy stop order at $3,400, a stop loss at $3,200, and a profit target at $4,300. This trade represents a 4.5:1 reward/risk setup with an implied profit target of over 27% from the entry. A two to three-box trailing stop would protect any profit made after triggered entry.
ETH/USD $50/3-box Reversal Point and Figure Chart
The theoretical long entry is invalidated if the current O-column reaches $2,950.https://www.youtube.com/embed/7NEO_lsgIHw?rel=0
XRP price pulls back and prepares to convert to a bull market
XRP price action has the best-looking bullish breakout compared to Bitcoin or Ethereum. This bullish bias is because the entry off the Pole Pattern breaks the current bear market angle and converts XRP into a bull market.
The possible long entry is a buy stop order at $0.80, a stop loss at $0.76, and a profit target at $0.98. Because this entry is based on a Pole Pattern reversal, XRP can move lower. If XRP does move lower, then the entry and the 4-box stop follow in tandem – but the profit target remains at $0.98.
Like Bitcoin and Ethereum, XRP’s possible long trade setup is a 4.5:1 reward/risk but with a 23% implied gain. As a result, $0.98 may be too conservative, especially given how long XRP has spent wallowing in flat to negative price action compared to Bitcoin and Ethereum.
XRP/USD $0.01/3-box Reversal Point and Figure Chart
This long entry idea is invalidated if XRP price drops to $0.70.https://www.youtube.com/embed/US3V-ITXn28?rel=0