Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Bulls are active at current levels, but bears do not hibernate

The news of the day is that VanEck SolidX in collaboration with the CBOE has resubmitted their license request for an ETF on Bitcoin to the SEC. The headlines that accompany this news already warn that this issue may take a long time, even beyond the end of this year.However, something is going to happen in the short term. I don’t know if the price of Bitcoin is going to plummet back to the 2018 lows of $3,150 or if there is an attack on the critical level of $4200, but something is yet to come. If we apply the Bollinger bands in the daily range chart, we see that the price is in a compression situation that will explode sooner rather than later.Below the current price, the first support level is at the $0.296 price level (price congestion support). The second support level for the XRP is $0.28 (price congestion support), an essential level since losing this support would lead the XRP/USD pair in the direction of the 2018 lows at $0.257 (price congestion support and relative minimum).The DMI on the 4-hour chart shows bears again more active than bulls but for a small advantage. Both sides of the market show significant levels of activity, so a clear break in either direction can find considerable support.

Leave a comment