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Top 3 Price Predictions for Bitcoin, Ethereum, and XRP: False selling pressure to spark fresh crypto upsurge
Bitcoin’s price continues to fall towards the $40,000 mark, but conviction is missing.
The price of Ethereum forms a bear trap behind a bull flag pattern.
XRP price action attracts buyers while rejecting more selling pressure.
Bitcoin price has formed one of the most visible head-and-shoulders formations on its daily chart, spawning a slew of fresh short positions before the pattern’s confirmation is complete. Similarly, after falling below its bull flag, the price of Ethereum has experienced a surge in fresh short bets. As buyers continue to arrive, the price of XRP is catching up to that of BTC and ETH.
Bitcoin’s price is bracing for a big short squeeze
Bitcoin’s price has been on a downward trend recently. Bitcoin has lost more than 20% since its opening last week. Most retail dealers are affected by fear.
However, Bitcoin’s collapse has been practically textbook in terms of timing and posture. As Bitcoin’s price fell below the flash-crash low of December 10, there was no follow-through selling. On the $1,000/3-box reversal Point and Figure chart, a short squeeze situation has formed.
