The crypto bull phase could begin in 10 days, according to the analyst who forecasts Bitcoin, ETH and XRP. Bitcoin price looks bearish on a daily basis. Ethereum price continues to consolidate in the $2,500 value area. XRP price is currently at the easiest time and price level to start a new uptrend.
New predictions for Bitcoin
Bitcoin price continues to trend bearish on the daily chart, but sellers remain undecided. Ethereum price failed to make a clear break above or below a critical Fibonacci level. XRP price has little upside in the form of resistance, preventing an explosive rise. Bitcoin price action is close to triggering a bear trap that could see BTC reach $50,000, according to analyst Jonathan Morgan. Bitcoin price has been a source of frustration for both bulls and bears. However, continued weakness demonstrated by the confirmed Ideal Ichimoku Breakout has not resulted in mass shorting for the bears. On the contrary, the bulls have steadily risen on higher lows. However, rejection remains against key resistance levels.
The disappointment for the bulls is that many big price hikes confirm the Ideal Taurus Ichimoku Breakout and then rebound from the initial sale. The resulting whiplash above and below key resistance and support devastated the participants, and many now sit on the sidelines awaiting clear direction. There is a buying opportunity for BTC price on the Point and Figure chart. The hypothetical long order is a stop loss of $38,500 and a buy stop order of $40,500 with a profit target of $52,500. If BTC moves to $37,000 before the entry is triggered, the hypothetical trading setup for Bitcoin price will be invalid.
ETH price offers opportunity to buy
cryptocoin.com According to analyst J. Morgan, whose analysis we have previously covered, Ethereum price offers an opportunity to buy before it reaches $ 3,800. Ethereum price action presents an aggressive buying opportunity on the daily Ichimoku chart. The theoretical long entry is a buy stop above Kijun-Sen at $2,760, a stop loss below the March 7 close, and a profit target at $3,800 above the previous bull flag. If Ethereum price drops below $2,400, the transaction will be void. Any near-term bullish outlook will be invalidated in this scenario as ETH will likely start another leg lower. The predicted low that ETH could hit is the $1,825 value area.
XRP needs buyers
The XRP price needs buyers to start the biggest bull it has seen in about a year. XRP price action like Bitcoin and Ethereum has confirmed several major bearish breakout setups on the daily Ichimoku chart. And just like BTC and ETH, sellers were unable or unwilling to take advantage to bring Ripple down. XRP is currently slightly above Tenkan-Sen and Kijun-Sen, but below the Ichimoku Cloud. However, where the XRP price is relative to the Ichimoku Cloud is extremely important. On top of XRP is a Kumo Twist. Fortunately for the XRP price, the kink itself is where the Ichimoku Cloud is weakest. In the price level of Kumo Twist, support and resistance are almost non-existent.
Additionally, when prices are trading near a Kumo Twist, that instrument can move very easily. When this happens, the Kumo Twist acts almost as an accelerator for price action, often creating dramatic and powerful moves. For ripple price, this means that there is a high probability of breaking above the $0.75 value area and forming a large increase towards the $1 value area.
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