A popular crypto strategist and trader is mapping out what’s ahead for Bitcoin (BTC), XRP and one low-cap altcoin this week amid the uncertainty in the broader digital asset market.
The pseudonymous analyst known in the industry as Credible tells his 310,600 Twitter followers that he’s expecting Bitcoin to continue consolidating this week in order to find new buyers for the next leg up.
“Going to be a slow week in my opinion as we are sandwiched between key support ($38,000-$39,000) and key resistance at $41,000-$42,000. I suspect we chop around between these two levels for a bit but ultimately resolve this consolidation to the upside. Hard invalidation for this idea is a tap of $36,200. BTC.
I’m fully deployed at the moment with my last spot buy in the $36,00 region. If I wasn’t, then yes I would be buying there.”
Looking at XRP, Credible says he sees the sixth-ranked crypto asset trading sideways this week after a short-lived rally from $0.76 to $0.85 on February 19th.
“A nice move but still consolidating before the next leg for now in my opinion.”
Credible is bullish on XRP, predicting that the altcoin will rally to his minimum target above $1.00.
Credible is also watching the price action of Hedera Hashgraph (HBAR), a public network for peer-to-peer payments. Credible says that while the bottom may be in for HBAR, he notes that it is still possible for the altcoin to slightly retrace to $0.20.
“I think the bottom is in, but we need to clear $0.25-$0.28 for confirmation. Just like the last time we put in our bottom, we spent weeks very close to those lows without making a lower low – so yes we can see $0.20 again.”
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