TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) — Bitcoin Is Leading the Whole Market. $200 Billion Market Cap Is on the Way

  • Alex Morris
    📈 Price Predictions

    It looks like the bears’ positions are coming to an end. Is it too early to talk about the total market reversal or not?


TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) — Bitcoin Is Leading the Whole Market. $200 Billion Market Cap Is on the Way

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

April 23 has started off for the crypto market more than just positive. A bullish Bitcoin candle has served as the reason for the increase in prices of other top coins. However, the rates of most digital assets are going up only in correlation to the US dollar but not BTC. Today’s bullish run of the world’s top digital asset is not the case when altcoins are going up faster than Bitcoin. Only the quotes of Bitcoin Cash and Cardano are showing a rise against the main crypto.

In this regard, BTC’s domination rate has rocketed up to 53.2%. The total market capitalization has increased by $7 billion and now constitutes approximately $184 billion.

BTC/USD

As it was predicted, the breakout of $5,500 was just a matter of time, and Bitcoin finally managed to overcome this psychological level. On the 1-hour chart, we see that the price of BTC rocketed up to $5,650 and then rolled back to $5,540, where it is located now. One of the possible reasons for such growth is the testing by NASDAQ of the BTC trading interface.  

BTC/USD chart by tradingview

On the other hand, the EMA 50 indicator has not crossed the EMA 200, which is known in trading as the “Golden Cross” when market reversal happens and the bullish trend is replaced by the bearish one. Moreover, the RSI indicator shows the coin is overbought, which can be a sign for a small correction.  

It is a high possibility that BTC will reduce to $5,500 in order to gain efforts to break further new resistance levels. This would be a good scenario for Bitcoin in terms of a long-term perspective.

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The price of BTC is trading at $5,542 at the time of writing.

ETH/USD

Today, Ethereum is not the exception from the majority of other coins, as its rate has decreased against BTC, however, it has gone up in correlation to the US dollar by around 2.5%.   

ETH/USD chart by tradingview

In the early morning, ETH’s rate managed to achieve $176, where it was trading 3 days ago, but it could not consolidate there and rolled back to $174.

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Based on the 1-hour chart, Ethereum has all chances to reach $180 as its trading volumes are quite high as well as its market capitalization.

At the moment, the yellow zone serves a great resistance for the coin, the breaking of which is a chance to touch $200 in the future.

The price of ETH is trading at $174.50 at the time of writing.

XRP/USD

Ripple is the only coin out of the top 3 whose rate is going down even against the US dollar. Currently, the asset has lost 0.13% in comparison to its position yesterday.

 XRP/USD chart by tradingview

Taking into account the technical analysis, the situation has not changed so far over the last day. It looks like XRP has its own patterns of growth and decline as the overall market tendencies have little effects on its rate change or even no influence at all.

In order for the price to increase, Ripple needs to break a resistance level of $0.3320 on the 1-hour chart. Only in that case can further highs be achieved.

The price of XRP is trading at $0.3265 at the time of writing.

Cover image via www.123rf.com
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Bitcoin Price Is Flowing to $10K on Elliot Waves. Can the Boat Break over the Resistance Iceberg?


Bitcoin Price Is Flowing to $10K on Elliot Waves. Can the Boat Break over the Resistance Iceberg?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Breaking resistance again and again, Bitcoin continues making its way to the top and has recently spiked to $8,300 before retracement. The bull market seems to have ceased from now on, and traders guess how low BTC might go. Some are sure there’s still hope for Bitcoin to make  few leaps. Will it reach the previous $20,000 mark or at least crawl to $10K mark? Let’s check out Bitcoin price forecasts from tradingview users: they come up with different interesting scenarios.

BTC aims for $10K on Elliot waves

BTC next target is $10,000

Looking at the BTC price chart from Mikelikescrypto, we can see the frequency of Elliot waves pattern and Bitcoin’s recent performance. According to the trader, after the previous Elliot wave count, Bitcoin’s next possible target is $8,600, and then it would be possible to hit $10,000.

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Consolidation is coming?

Consolidation might be forming

My2Sats analyzed the previous resistance and support levels for BTC. Last time, we were searching for a higher low compared to $3,338 to then try and shift momentum and get a higher high above $4,188. Clearly, BTC did that and really anyone buying in on the weekly chart shift from its bearish lower highs and lower lows to the bullish pattern of higher lows and higher highs once we broke above $4,188 has been extremely happy.

It’s been almost a straight bull run since then. The weekly chart is pushing above some major MA's. RSI is overbought for the first time since the end of 2017! The past few weeks have been so bullish, we have not established much in terms of support on the way up. Some consolidation would be logical, a higher low and then moving up, but anyone who has been in this market knows the bulls can start running more parabolic if FOMO sets in.

As for the trading strategy, we can just ride stop losses based on higher lows for these rather than trying to actively trade anything while gone. Hopefully, bulls will continue the momentum after the pause and keep things pushing upwards but on the technical side, we really could use some consolidation and forming some bases of support.

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Look at the crazy Bitcoin fractal

10K rally is more than possible for BTC

For botje11, the current BTC performance is reminiscent of a 10K rally that has already happened. Back then things went much faster than the past half year. But now when thinking about it again, this rally has been extremely fast, so in that sense, it's actually even good. The fractals on the BTC price charts are here to show how the market evolves.

Botje11 believes that if we stay below $7,900/$7,850, reaching $10K might still be real. If it breaks, let’s forget about it for some time. This is bouncing up quite strong now. Bears attempted to drop BTC, but the sell volume isn’t strong enough.

Time will show who has the power to short the market now. At the moment, selling volume is not enough. The fractal is not completely over yet, but becoming more likely to be a failure. $7,800 is the main support level, so we should see whether Bitcoin can keep it.

$8,250 is the next serious resistance

Watch if BTC reaches $8,250

Patient longs have been rewarded as Bitcoin has gone parabolic, in a rally of remarkable proportions, even for this cryptocurrency. BTC/USD has surged beyond resistance at ~$7,250, and gone on to break $8,000, touching a new yearly high of $8,169.

Its surge has also boosted most of the major cryptocurrencies and added ~$30b to the overall cryptocurrency market capitalization. This has been a move supported by volume and the ‘whales’ of the industry; tracking data showed the rally supported by trading from large Bitcoin holders, with the single biggest whale moving some 47,000 BTC into the market. Our next meaningful resistance is in the $8,250 region –if BTC gathers $1,000 in price again it would mean a new victory and a new bull wave.

Price charts are taken from TradingView

Cover image via 123rf.com
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