High-profile crypto strategist Peter Brandt says Bitcoin appears to be setting up for a big move that will propel the top cryptocurrency to a new all-time high.
The veteran trader tells his 364,000 Twitter followers that he sees BTC ending its multi-year bear market en route to a surge of 400%.
That is actually where my head is. Massive symmetrical triangle in $BTC points to ATHs, then $50k
— Peter Brandt (@PeterLBrandt) July 25, 2020
The top cryptocurrency briefly climbed above psychological resistance of $10,000 on Sunday.
Brandt also sees the possibility of a long-awaited breakout for XRP.
“XRP/BTC forming a possible inverted H&S bottom. Maybe Ripple Labs, the bag holder, will be able to pull a cat out of the bag.”
Source: Peter Brandt/Twitter
Another closely-followed crypto analyst who goes by the name The Crypto Dog tells his 203,000 Twitter followers that he believes the XRP/BTC pair is on the cusp of a new uptrend.
“This is literally the very beginning for XRP. Let it ride.”
Source: Twitter/The Crypto Dog
Elliott wave analyst Benjamin Blunts, the crypto strategist who accurately called the BTC bottom in 2018, says the fourth-largest cryptocurrency is poised to rally by over 25% in the near term.
breaking out, 589 soon, press green button for financial freedom $xrp pic.twitter.com/GALGLCptHS
— 🍄🌲Benjamin Blunts🌲🍄 (@SmartContracter) July 23, 2020
But not all analysts are bullish on XRP.
A pseudonymous analyst who goes by the name Bagsy tells his Twitter crew of 46,000 that he believes positive news on the crypto asset will be required to fuel a fresh rally.
“XRP general thoughts: I don’t think this pumps without fundamentals and for now I don’t see anything in the calendar… Bounces are for shorting until proven otherwise.”
Featured Image: Shutterstock/IM_VISUALS