A top analyst and trader believes that a crypto “moon mission” is on hold in the short-term.
In a new strategy session shared with his 62,000 Twitter followers, Credible Crypto says Bitcoin (BTC) is experiencing a healthy correction after posting a 52-week high of $12,045. Once the correction takes place, he expects a rapid ascent to $14,000 or higher.
“What we’re looking at now is either an expanded flat or a running flat. In the case of an expanded flat, we might push up a little bit higher, complete that [bearish] divergence in the daily, and then come back down to retest the $10,400 region. In the running flat scenario, we come up, and then we get a retracement but it doesn’t go lower than $10,600 and then we simply continue to the upside of $14,000.”
In the last 24 hours, the crypto king plunged to $11,249. It is now trading at $11,748 according to CoinMarketCap.
Meanwhile, Credible Crypto says that a trip to the low $300 region for Ethereum (ETH) offers an excellent opportunity to buy the dip. The coin has already reached his first target of $370.
As for XRP, Credible Crypto is optimistic that Ripple’s native token will continue to climb. He predicts that the third-largest cryptocurrency will soar in the next two months.
“It’s simply not about fundamentals right now, early days still. Price is still mainly driven by speculators. Don’t forget XRP was a top performer like two weeks ago. 40+% in a week. Now we are prepping for the next leg.”
Credible Crypto says Ripple’s native token can potentially surge over 30% from its current price of $0.28.
“XRP is gearing up for $0.35 to $0.37.”
In July, before Bitcoin, Ethereum, and XRP exploded, Credible Crypto predicted that the broader crypto market will experience a bullish rally.
“In the coming months, we will get to experience one of those rare periods of time when both bitcoin and alts pump together…and it will be beautiful #bitcoin #alts #moonmission.”
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