Top 3 Bitcoin, Ethereum, Ripple Price Predictions: Knife Catching 101, Wiggle Room and Papercuts

  • Bitcoin price is in profit and continues to show bullish signals. However, things could change quickly.
  • The price of Ethereum looks set to soar. The risk has been reduced based on the bearish divergence on the relative strength index.
  • Ripple price is at a critical market point. No favorable configuration at present.

The cryptocurrency market has provided dozens of profitable opportunities for traders willing to engage. Right now the market is showing potential for further gains. Still, qualifying when to call Crypto season will separate the profitable traders from the brave who couldn’t succeed and the spectators who couldn’t be brave.

The price of Bitcoin maintains a bullish position

Bitcoin price is currently trading at $23,608. The peer-to-peer digital currency maintains a macro bullish stance and proves that more short-term gains are on the way. Short-term targets lie at the $25,800 level, while a break above $22,000 could be the catalyst to end the short-term uptrend scenario.

The bullish confluence in bitcoin price is currently hovering above a 38.2% macro Fibonacci retracement level. The Fib tool circles BTC price action, from pandemic lows at $3,500 to all-time highs at $64,000.

According to Monday’s predictions, traders are now making a profit of 2 times the initial risk. Bulls looking to join the trend are likely to experience paper cuts and liquidity hunts along the way. The displayed congestion is expected before an influx of volatility enters the market. The choppy price will either propel a further rally towards $25,800 or a drop below $22,000, which is what most marginalized investors can hope for.

The invalidation of the uptrend scenario rose to $22,000 to reduce risk. If $22,000 is breached, the bears could redirect south, targeting $19,600 and possibly $17,500 for up to a 25% decrease in bitcoin’s market value.

BTC/USDT 8 hour chart

In the following video, our analysts dive into Bitcoin’s price action, analyzing key levels of interest in the market. -Netcost-Security team

Ethereum price has room to drop ahead of further gains

Ethereum price is currently trading at $1,580, just above Ethereum’s first target zone from July 17 bullish thesis. Traders are now profiting 1x their risk. There is a slight increase in bearish volume on intra-hourly timeframes, which could be a promising indicator for sidelined investors.

Still, the slope of the current tilt is quite steep, leaving enough room for smart money to embark on another liquidity hunt as low as $1,290 without invalidating the medium-term bullish thesis. A Fibonacci retracement indicator surrounding the steep slope confuses the idea of ​​room for maneuver with a 50% fib level at $1,293. The Relative Strength Index is also showing a subtle bearish divergence near the current price level of $1,580, which justifies the idea of ​​a possible liquidation hunt.

Thus, placing an additional entry at the present time is unfavorable. A knife-catching opportunity could present itself in the $1,300-$1,350 area in the coming days, with a bullish target in the $1,900s after the dip. The invalidation of the uptrend scenario is now a breach below $1,270.

tm/eth/7/22/22

Wiggle Room ETH/USDT 8-Hour Chart

In the following video, our analysts dive into Ethereum’s price action, analyzing key levels of interest in the market. -Netcost-Security team

Ripple price still has an uncertain medium-term trajectory

Ripple price crosses a short-term ascending trendline. The digital rebate token has not shown clear evidence to justify a favorable bullish trade setup.

The Relative Strength Index shows a double top pattern accompanied by a bearish divergence on the 8-hour chart. It may be best for traders to consider other opportunities in the cryptocurrency market, as the medium-term trajectory is still unclear.

The invalidation of the bearish thesis is a breach above $0.4807. A breach above the Invalidation Barrier could foster a favorable trading environment for traders to target $1.20 for up to 233% upside from the current Ripple price.

tm/xrp/7/22/22

XRP/USDT 8 hour chart

In the following video, our analysts dive into Ripple’s price action, analyzing key levels of interest in the market. -Netcost-Security team

Leave a Reply

Your email address will not be published.