Search results for MichaelXBT
Crypto
Bitcoin pullback deepens as market watches $70,000 support
Bitcoin is retesting a long-term support zone, with warnings that losing the $70,000 level could lead to its biggest weekly decline in years. Market participants are watching whether it can hold the lower trendline of a rising wedge that has formed since the 2021 bull market. Some analysts say a break could shift control to sellers. Others argue the weakness may reflect a common month-end correction pattern, while still warning of further downside.
Crypto
XRP may rebound after retail investors exit, with $1.50 recovery key
XRP may be entering a decisive phase after volatile trading accompanied by investor exits this week, an analysis said. Market analyst MichaelXBT said XRP has reached the end of a falling-wedge pattern on the weekly chart and a breakout may be near. He said short-term volatility could shake out less-convicted investors first. Analysts cited $1.50 as the key resistance area, with a close above about $1.51 needed to confirm a breakout setup.
Crypto
XRP rangebound run may soon begin, analyst says
Crypto market analyst MichaelXBT says XRP has likely finished forming a bottom and that a long period of sideways trading is nearing an end. He says XRP could enter another sharp rise after months of correction. He points to a key resistance zone at $1.8 to $2 and says a break could open the way for a retest of $3. He also expresses a bullish view on altcoins and sees bitcoin strength as support.