- Bitcoin and XRP price charts hint at another possible bullish wave.
- These crypto assets could hit new ATH targets in the final bull wave pump.
- Ripple’s XRP hints at hitting double digit ATH prices in altseason peak phase.
Popular crypto analyst shares her bullish observation on where the price of promising crypto asset prices can go next. To highlight, she talks about Bitcoin (BTC) and the altcoin XRP, both popular assets that are expected to hit higher ATH prices in Q4. In detail, she says that Bitcoin and XRP price charts hint at another possible bullish wave to new ATH targets and goes into detail explaining the possibilities.
Bitcoin and XRP Price Charts Hint at Another Possible Bullish Wave
To begin, the analyst starts with a detailed observation on Bitcoin (BTC). So far, she observed that most recently, Bitcoin has spent the past few days battling the .618 retracement resistance at $114,600, but price has now pushed further to test the .854 retracement at $116,500. This is the last retracement level that still keeps a Wave 2 scenario valid. It’s deep, but not invalid and historically, $116,500 is a significant level in the market.
She then states that seeing it tested as resistance here isn’t surprising and clarifies that momentum is showing signs of exhaustion. The analyst then observes that the RSI bearish divergence that began at the .618 level has now extended across multiple timeframes and is being respected. This strongly suggests that Bitcoin will not be able to break this resistance. Looking ahead, the analyst states that the Wave 3 down targets haven’t changed.
In conclusion, she says that $100,000 still remains as the standard extension target and $96,000 as the macro .236 retracement, which also aligns with the subwave targets. This is an extremely significant level of support. The only scenario that would invalidate this wave 3 down is a breakout above $118,000 resistance to push toward new ATHs. But given the exhaustion the market is currently seeing in momentum, that looks very unlikely.
Finally, she adds that the move is coming with several degrees of bearish signals lining up, and the market is now perfectly tagged the .854 retracement. Lastly, she mentions that it is still mid-week and that Wednesdays often bring volatility surprises, meaning to stay vigilant and see what plays out next in the market. Meanwhile, another reputed trader talks about Ripple’s XRP.
Both Assets Could Hit Highly Bullish ATH Price Targets Soon
As we can see in the post above, XRP in the weekly time frame closed a weekly candle yesterday where it had addressed the 4th and 5th White Waves on February 13 as a monthly structure. The analyst says that the 4th wave is complete and that the 5th wave is in progress. The analyst concludes by saying that this wave can still extend into double digits and mentions that despite the bearish market sentiment at the moment, with the possibility of the US Government shutting down tomorrow, there is clear incoming momentum and unfinished moves for XRP.
