Everyone in the cryptocurrency world continues to comment on when Bitcoin will rise. Investors are eyeing a rise after the halving later this year and next year, while analysts’ comments continue to attract attention. In this process, a widely followed crypto analyst and trader made a statement that Bitcoin (BTC) is preparing for a significant jump.
Analyst’s Bitcoin Commentary
Credible Crypto, a well-known analyst, made important statements to thousands of users on the X social media platform. He stated that Bitcoin could reclaim the $68,000 level in the coming days.
Not much has changed here, folks, but many alts are now hitting my downside targets / bounce zones, so things are starting to line up here. We won’t rule out another bounce towards local demand and then look for the relief / upward reversal we are seeking. Let’s go.
By examining his chart, the trader suggests that Bitcoin might move below $60,000 before making a clear rise towards the $68,000 resistance.
At the time of writing, Bitcoin has fallen back to $61,413 after a 2.28% drop in the last 24 hours. The market cap also fell to $1.21 trillion following the price drop.
XRP Coin Commentary
The analyst’s commentary on XRP also drew attention. The emphasis that XRP could experience a price rally along with Bitcoin created excitement in the market.
We maintained the lower trend line in my last tweet, but the price action is still corrective. Overall, I expect to see some relief, and I want to see XRP outperform BTC in this potential upward move. If we can rise above $0.64 in a potential BTC relief leg and reach $69,000-70,000, our $0.43 low (lower trend line) has a chance to hold in the next BTC down leg. Long story short, if BTC bounces as expected in the short term, let’s see how strong the reaction in XRP is. If it’s strong enough to take us above $0.64, that will be a very good sign.
XRP is trading at $0.5016 at the time of writing, after experiencing a drop of over 1% in the last 24 hours.
