According to analysts, although the bear market technically continues, Bitcoin and altcoins have seen a recovery in recent days.
As optimism in the market begins to rise, one analyst stated that the bullish trend for Bitcoin, Ethereum, and $XRP could continue.
Gareth Soloway, who has 24 years of experience in technical analysis, shared his price expectations for $BTC, $ETH, and $XRP in his latest YouTube video.
1) Bitcoin ($BTC):
The analyst noted that Bitcoin has formed a classic bullish consolidation pattern, observing the inside candle that formed after a strong green reversal candle in Bitcoin.
According to the analyst, as long as Bitcoin does not make a daily close below the low of this candle, the bullish structure remains fully intact.
At this point, the analyst argued that he expects a strong breakout from $71,000 in Bitcoin soon, and if this happens, the target for $BTC would be between $80,000 and $85,000.
2) Ethereum ($ETH):
The analyst stated that Ethereum, like Bitcoin, is giving a bullish signal. According to the analyst, Ethereum is forming a bullish flag within a green reversal candle range and is not below the daily closing support level.
The analyst stated that the level to watch for $ETH at this point is $2,150, adding that a break above this level would push the price into the $2,600 to $2,700 range.
3) $XRP:
Soloway noted that $XRP is also showing upward momentum, stating that his upside target for $XRP is between $1.77 and $1.90, where a downward sloping trendline intersects with previous resistance.
*This is not investment advice.
beincrypto.com
cointelegraph.com