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Bitcoin Price Prediction: Is the crypto bottom here?

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FX Street

Thu, Jun 23, 2022

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Aliens TLDR

Bitcoin price slips below weekly open, suggesting the possibility of a 10% downswing to $17,924.

Ethereum price will follow BTC’s and retest the $993 support level.

UPDATE: Bitcoin price predictions are torn between those who forecast a potential bottom for cryptocurrencies and BTC, and the ones – like billionaire investor Mark Mobius – that see the current consolidation just above the psychological $20,000 level as a stop for the bears before they keep marching towards new lows.

That also has turned XRP price predictions a bit more optimistic, as the Ripple token trades in the thinnest range.

Live Dashboard https://t.co/HyTvRA6QrW pic.twitter.com/HYbjliokIq June 23, 2022 Bitcoin price shows signs of exhaustion as it reverses the bullish trend seen over the past three days.

Bitcoin price climbed past the weekly open at $20,535 and swept Monday’s high at $21,068 on June 22.

BTC/USD 4-hour chart On the other hand, if Bitcoin price produces a higher high above the June 21 swing high at $21,705 and stabilizes above $21,068, it will invalidate the bearish outlook.

Ethereum price rallied 35% between June 19 and June 22 and set a swing high at $1,192.

This retracement is likely to further drive Ethereum price lower, at least until it revisits the $993 support level.

ETH/USD 4-hour chart If Ethereum price produces a four-hour candlestick close below $993 without any signs of a quick recovery, however, it will invalidate the bullish thesis.

Ripple price has faced the $0.336 hurdle three times since June 13.

This downswing will likely continue until XRP price encounters the $0.306 support floor.

If Ripple price manages to flip the $0.336 barrier, XRP might revisit the $0.401 hurdle after a 19% upswing .

XRP/USD 4-hour chart While things are looking cautiously optimistic for Ripple price, a four-hour candlestick close below $0.306 will invalidate the recent upswing to $0.336.

FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.

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