Bitcoin
Crypto Analyst Predicts Sudden Jump for Bitcoin (BTC), Updates Outlook on XRP
A widely followed cryptocurrency analyst and trader believes that Bitcoin (Bitcoin) is getting ready for a big jump.
The analyst known pseudonymously as Credible Crypto it says his 393,300 followers on the social media platform X that Bitcoin could reclaim the $68,000 level within days.
“Not much has changed here folks, but a lot of alts are now hitting my negative targets/bounce zones, so things are starting to line up here. We will not rule out a further increase in local demand and will then wait for that relief/reversal to the positive side that we have been hoping for. Let’s get it.”
Source: Credível Crypto/X
Looking at his chart, the trader suggests that Bitcoin will witness one more move below $60,000 before a strong bounce towards resistance at $68,000.
Bitcoin is trading for $62,613 at the time of writing, an increase of 2.19% in the last 24 hours.
Next, the merchant it says that the cross-border payments network XRP could also see rallies alongside Bitcoin.
“We have held the lower trendline since my last tweet, but the price action is still corrective. As I think we may see some relief across the board, I want to see XRP outperform BTC in this potential move higher. If we can get back above $0.64 on a potential BTC relief leg to $69,000-$70,000, then there is a chance that our $0.43 low (lower trendline) will hold on a leg subsequent back to BTC.
In short, if BTC bounces soon as expected, we will see how strong XRP’s reaction will be. If it is strong enough to take us back above $0.64, then that is a good sign.”
Source: Credível Crypto/X
XRP is trading for $0.504 at the time of writing, an increase of over 1% in the last 24 hours.
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