- Bitcoin witnesses a denial near the $ 23,500 level. By doing so, the bullish count was disabled.
- Ethereum prices will fall as expected, but may spin higher.
- The ripple price on the signal will be displayed and the idea of the $ 0.24 target will be activated.
The crypto market is declining even further. A short-term profit recovery may have been a clever money trap to seduce traders.
Bitcoin prices will be rerouted south
Bitcoin prices violated the uptrend channel, prompting a 25% profit recovery since July 13. Breaking news was published on July 21 to warn traders of a trend failure. The original peer-to-peer cryptocurrency generated the expected retest and rejection signals from the ascending channel on July 23, and has since lost 10% of its market value.
Bitcoin is currently trading at $ 20,706 as bears use free-fall to suppress digital cryptography. July offered the opportunity to catch knives in the crypto market to make a profit, but the fall in BTC prices should not be seen through the same optimistic lens. In layman’s terms, smart money has nullified the bullish short-term count. We are targeting a BTC price of $ 17,000 and, in some cases, $ 16,200.
The bear count invalidation is $ 24,400. If the bulls could conquer this level, they could rise to as high as $ 27,750, resulting in a 33% increase from the current Bitcoin price.
In the following video, analysts delve into Bitcoin’s pricing behavior and analyze key levels of disadvantage in the market. -FX Street Team
BTC / USDT 4-hour chart
Ethereum prices fall as expected
As FXStreet analysts pointed out, Ethereum prices showed signs of bearish just before the end of the New York session on Friday, July 22nd.
“The Relative Strength Index also shows a subtle bearish divergence near the current $ 1,580 price level, which justifies the idea of a possible clearing hunt,” he said. I read the analysis.
The subtle bearish divergence found led to a 16% decline. again, “”Smart Money Can Go Another Liquidity Hunt For At least $ 1,290 Without invalidating the bullish mid-term treatise.“”
“Ethereum prices are currently trading at $ 1,374. Traders need to pay attention to ETH prices as potential knife catch rebounds can be a profitable opportunity. Rebound targets start at $ 1,650. It is between the $ 1,900 zones (you can issue more accurate targets, if the first rebound signal occurs).
ETH / USDT 4-hour chart
In the following video, analysts delve into Ethereum’s pricing behavior and analyze key levels of disadvantage in the market. -FX Street Team
The invalidation of the uptrend scenario has been moved from $ 1,270 to $ 1,250 for wiggle room and accuracy. A more conservative approach is to wait for the turn and make a breach of over $ 1,460 before getting involved in the Ethereum price.
XRP price is targeted at $ 0.24
On Monday, July 26th, an urgent warning was issued to XRP traders. Digital remittance tokens were rejected by the descending Elliott Wave Trend Channel (EWTC) and then fell 7% in free fall. It is not recommended to be the initial bullish of the XRP price, as the subtle lamp pattern confuses the bearish strength of the volume profile indicator.
If the technique is right, the price of XRP is due to severe pain. The conservative target is $ 0.28, which dates back to June 18. The macro merge target suggests that $ 0.24 and $ 0.20 are also included in the card.
The bearish treatise invalidation remains at $ 0.48. If a bull is likely to violate this level, it could trigger a new bull run targeting $ 1.20, resulting in a 280% increase from the current XRP price.
XRP / USDT 4 hour chart
In the following video, analysts delve into XRP’s pricing behavior and analyze key levels of disadvantage in the market. -FX Street Team