Bitcoin Steady As Bollinger Sees Imminent Breakout, XRP Up 13%

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Last Updated on 9 April 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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The crypto world bounced back after markets in the US closed their session and Bitcoin remains stubbornly stuck in between $55k and $60k, now trading at $58k again.

More and more traders meanwhile think a retest of lower levels is possible for Bitcoin. Earlier this week, VeChain’s favorite analyst Justin Bennett has anticipated a flush of crypto prices already. And now the popular trading account Cantering Clark believes that Bitcoin could seek to find its 20 week moving average again, which would mean a retest of the $40k level.

He explained with a chart:

More fuel for why I think April-May puts a lid on $BTC until later in the year. Simple as it is, this 20 week MA with a 2 standard deviation band above. At some point, these meet. Either it comes to us or we come to it. Hard to imagine this takes plus much higher up.

Meanwhile legendary market analyst John Bollinger (of the well known Bollinger bands) looked at the Bitcoin charts quite differently.

He stated that:

Bitcoin is setting up an attempt at a breakout to a new high. $BTCUSD Still seems early to me; better to be on the alert than to miss.

The next few weeks will inform us who of the two is correct.

Advertentie.

XRP up on SEC news

Ripple labs has received some good news in its legal battle with the SEC this week when the judge granted a motion that gives the crypto company access to internal SEC documents. In this manner, the legal team of CEO Brad Garlinghouse hopes to find that XRP was described by the SEC internally in the same manner as Bitcoin and Ethereum, which would settle the matter.

XRP trades upwards 13% today and is back above $1.