Member-only story
Bitcoin, Ethereum, and Ripple are the top three cryptocurrency price predictions.
The price of bitcoin might decline by 25% due to mean reversion.
To close existing Ichimoku gaps, Ethereum will have to decline by at least 16%.
By consolidating rather than selling off, XRP might outperform Bitcoin and Ethereum.
Bitcoin’s price action is still stretched from its weekly Tenkan-Sen, indicating that a correction is imminent. On its weekly Ichimoku chart, Ethereum, like Bitcoin, is prone to big gaps. For the first time in months, the XRP price may surprise market players by outperforming Bitcoin and Ethereum.
Bitcoin price is overstretched, and a significant pullback is on the way.
The body of the weekly candlesticks and the weekly Tenkan-Sen continue to show huge gaps in Bitcoin price. Gaps between the Tenkan-Sen and candlestick bodies usually close in five to six periods, which Bitcoin is nearing the conclusion of right now. As a result, unless Bitcoin consolidates and trades sideways, the next step is for Bitcoin to drop below the Tenkan-Sen.
Given Bitcoin’s lengthy rally, deeper profit-taking may occur, prompting traders to send the price farther lower, to the confluence zone of the Kijun-Sen and the 2021 Volume…