A veteran technical trader who called Bitcoin’s big drop in 2018 says XRP is in the midst of a “popcorn rally.”
When asked to clarify what he means, Peter Brandt told fellow traders to “think about it — in a popcorn maker a kernel pops to the top of the pan and falls immediately back down.”
Brandt says last year’s dramatic decline in the crypto markets was easy to predict from a technical perspective. As for the year ahead, he says anything can happen, from a Bitcoin drop to $1,200 to a bull run that sees BTC returning to its all-time highs.
Right now, the markets are relatively quiet, with Bitcoin up 0.41% at $3,983, according to CoinMarketCap.
Meanwhile, most technical analysts are leaning bearish in the short term, with Ethereum “taking a break” before its big Constantinople upgrade.
Bitcoin
FXStreet – BTC/USD lethargic under $4,000 – confluence detector
Blockonomi – BTC/USD consolidating near $4,000, preparing for the next crucial break
NewsBTC – BTC bulls and bears kock horns for next break
XRP
Coinnounce – XRP/USD likely to hit $0.3050 support new upward trend can begin
FXStreet – XRP/USD could see return to $0.3000
NewsBTC – XRP signaling bearish extension in short term
Ethereum
Bitcoinist – Ether takes break before Constantinople
Coinnounce – Ethereum confronting solid resistance close to $150
FXStreet – Constantinople update keeps Ethereum bears at bay
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