XRP traders may receive additional losses because a veteran trader has just warned that the bearish characteristic has not yet completed its impact on the market.
In one tweet On February 20, Peter Brandt – a well-known cryptocurrency and traditional asset trader, said the head and shoulders (H&S) model of the XRP / USD pair this month is likely to push prices. lower down.
Brandt: the possibility of XRP will drop to US $ 0.2
XRP has reached a high of nearly $ 0.35 in recent days, but has since dropped significantly to the current level of $ 0.27.
“It will be interesting to see if this top H&S takes place. If so, the target will be $ 0.2071. ”
This pattern took place throughout February, with the XRP / USD pair reaching $ 0.28 on February 9, then dropping briefly for a while before climbing to a peak of $ 0.35 on February 15. 02.
Brandt adds that he does not predict the future of XRP, instead, the possibility of an additional 25% loss is a “prospect.”
Ethereum holds up very well
Brandt also shared a short but encouraging view on the biggest altcoin – Ether (ETH).
“It's holding very well,” he tweeted.
For the subject of Bitcoin (BTC), Brandt has not added to his bullish capital stance. In an interview with CoinTelegraph in January, he stated that the BTC / USD pair will not return to $ 6,000 or lower, since the “novice” is no longer in the game.
Bitcoin then reached a multi-month high of $ 10,500, before reversing its course. On Wednesday, an unexpected drop of up to 8% in minutes pushed BTC below the low of $ 9,600, with the exact cause still being a speculation issue.
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According to CoinTelegraph
Translated by ToiYeuBitcoin
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