Bitcoin is stalling around $70,000 and it is now the last hope of investors that it does not fall below at least $69,000. Maintaining the previous cycle ATH level will support investors’ short-term bottom expectations. So what are Melker’s expectations for XRP Coin and others?
Is Bitcoin at the Bottom?
First, 93 thousand dollars were lost, then BTC It fell below $81,500. Now it has lost 78 thousand dollars and dropped to 69 thousand dollars. At this stage, extreme bearish ones like Roman Trading have reached their first target, but they are targeting $56 thousand before it is too late. CAPO was wrong in its interim bullish forecast.
Henrik Zeberg wrote:
“For those who fear we may not see the Blow-Off-Top! The Dow Jones Transportation Index is leading the rest of the market.
Expect a similar move on Nasdaq!… and BTC follows Nasdaq.”
Many analysts say the decline in US markets is accelerating cryptocurrencies It expects it to increase its losses. The stock market is not far from a record high, and the possible decline that begins could last for weeks. In this situation, we may see historical losing streaks for cryptocurrencies. However, a sudden rebound in the stock market could trigger a rapid reversal as crypto is already oversold, as Henrik expects in the short term. Time will tell what happens.
Silver and XRP Coin
Scott Melker says the large volume increase seen at the top indicates a decline silver He shared the following goal for:
“There is currently a potential bear flag above the daily 50 MA. If this breaks, the target is below $50… which is where silver will go.”
Same analyst XRP Coin He says that since he has made rapid gains in the last year, it is normal for him to experience steeper losses than others.
In fairness, the weekly 200MA is at $1.1 and this key level could be lost. Since most support for XRP Coin is below $1, we may see a return to the days before the Trump election and the lawsuit for Ripple (XRP).
So what to do? In the last 3 months of last year, those who stuck to the 4-year cycle story had already sold their assets and started monitoring. However Trump’s Nobody expected him to appoint an anti-QE Fed chairman this year and try to attack Iran again. At this stage, losses may increase or a rapid turnaround may begin from here. However, we are under the influence of many factors, including the possible Supreme Court tariff decision of February 20, the uncertainty of whether the Iran issue can be resolved immediately, the independence of the Fed, and the pressure put on the market by Warsh’s view on QE.
