A popular cryptocurrency analyst said he believes Bitcoin (BTC), XRP and a recently mentioned altcoin will maintain their bullish momentum despite the weekend market drop.
Anonymous trader Credible says he saw Bitcoin pull back to the $42,000 level before continuing its uptrend.
“With this last weekly close, we have taken back a very important level. The last four times we have closed above or below this level on the higher timeframe, we have moved to the opposite end of the range within a few weeks. We expect the same this time around – a retest of the $40,000 low and a continuation of the uptrend. BTC.” Looking at the chart of
Credible, the crypto strategist predicts that the Bitcoin rally will be above $50,000 once the short pullback is over.
Another cryptocurrency on Trader’s list is XRP. The analyst said that the coin is poised for a rally above $1.00. Based on its chart, Credible predicts XRP will rise to $1.01 and then $1.50.
“Takes a little longer than expected, but it’s still on the way. We could see some lower time frame volatility but I think we kept our higher high low and continue up from there. XRP.”
The latest cryptocurrency on Credible’s radar is Litecoin (LTC), a cryptocurrency built for payments. According to Credible, Litecoin’s chart resembles the market structure of Zilliqa (ZIL), a low-value altcoin that has exploded over 600% in a short time.
“ZIL has increased by about 6x in two weeks and LTC seems to be preparing similarly from a technical point of view… This next step will be fun.”
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