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 <p>A widely followed cryptocurrency analyst and trader believes Bitcoin (BTC) is gearing up for a big bounce.</p>
 <p>The analyst pseudonymously known as Credible Crypto tells his 393,300 followers on the social media platform X that Bitcoin could reclaim the $68,000 level within days.</p>
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 <p><em>“Not much has changed here folks, but lots of alts are now hitting my downside targets/bounce zones so things are starting to line up here. Won’t rule out one more spike down into local demand and then expect that relief/reversal to the upside that we have been looking for. Let’s get it.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GNcSZRrX0AA3xJ5?format=jpg&amp;name=4096x4096" alt="Image" width="2820" height="1480">
  <figcaption class="wp-caption-text">
   Source: Credible Crypto/X
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 <p>Looking at his chart, the trader suggests Bitcoin will witness one more move below $60,000 before a steep bounce toward resistance at $68,000.</p>
 <p>Bitcoin is trading for $62,613 at time of writing, up 2.19% in the last 24 hours.</p>
 <p>Next up, the trader says that the cross-border payments network XRP may also see rallies alongside Bitcoin.</p>
 <p><em>“We held the lower trendline from my last tweet but price action is still corrective. As I think we may see some relief across the board, I want to see XRP outperform BTC on this potential move to the upside. If we can get back above $0.64 on a potential BTC relief leg to $69,000-$70,000, then there is a chance that our low at $0.43 (lower trendline) holds on a subsequent leg back down on BTC. </em></p>
 <p><em>Long story short, if BTC bounces soon as expected, let’s see how strong the reaction on XRP is. If it’s strong enough to get us back above $0.64, then that is a very good sign.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GNb99nzX0AADzLt?format=jpg&amp;name=medium" alt="Image" width="1199" height="623">
  <figcaption class="wp-caption-text">
   Source: Credible Crypto/X
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 </figure>
 <p>XRP is trading for $0.504 at time of writing, up over 1% in the last 24 hours.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-analyst-predicts-sudden-bounce-for-bitcoin-btc-updates-outlook-on-xrp-tbt88347.html">https://thebittimes.com/crypto-analyst-predicts-sudden-bounce-for-bitcoin-btc-updates-outlook-on-xrp-tbt88347.html</a></p>

Crypto Analyst Predicts Sudden Bounce for Bitcoin (BTC), Updates Outlook on XRP

TheBitTimes

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