• Bitcoin price ascends in a turbulent fashion, which raises questions about the bullish strength.
  • Ethereum price is in profit from Monday's bullish trade setup. Open positions should be managed safely.
  • Ripple's XRP price remains dangerous as the bulls tread back into a descending weekly trend channel.

The crypto market continues to make impressive gains. All bullish trade setups should be safely managed to ensure healthy risk management.

Bitcoin price is following the technicals

Bitcoin price, at the time of writing, auctions at $22,662. The bulls have successfully invalidated the persistent triangle formation to start the third week of July. Last week's bullish thesis mentioned the likeliness of a $22,000 breach. Still, the ascension has not come with ease. There has been noticeable congestion amidst the 9% incline since the weekend for the BTC price, which raises questions about the market's overall strength.

Bitcoin price should continue higher as the technicals show higher lows established on the 12-hour chart. Additionally, the BTC price has established its highest market value in over a month. Still, a breach of the lower end of the newly found parallel channel could be an early indicator for bulls to begin taking profit. Targets for the BTC price remain at $23,657 and $25,750.

tm/btc.7/19/22

BTC/USD 12-Hour Chart

Invalidation of the uptrend is a breach below the channel currently positioned at $21.448. If the invalidation level cannot hold support, the bears could reroute south, targeting $17,000, resulting in a 25% decrease from the current Bitcoin price.

Ethereum price is in profit

Ethereum price is in profit following Monday's bullish trade setup. The bulls have experienced a 10% profit as the ETH price continues to ascend in stair-step fashion. Still, the volume indicator shows increased transactions without much price movement. This could be early evidence of bullish exhaustion. Thus, traders who partook in Monday's trade setup should consider moving their stop losses to break even.

Ethereum price currently auctions at $1,528.The third bullish target is at $1,780, but the invalidation level remains at $1,304. For the safety of our readers, moving risk to break even is recommended. Remember that a breach of $1,304 would set up a bearish scenario targeting $980, resulting in a 35% decrease from the current Ethereum price.

tm/eth/7/19/22

ETH/USDT 3-Hour Chart

Ripple price is in a scary situation

Ripple's XRP price has retracted into a descending Elliot Wave Trend Channel. The XRP price action resembles Wave 4 criteria, meaning Ripple could be setting up for one more Wave 5 decline. 

Ripple price has ascended 18% in stair-step fashion since July 11. The congested incline could be an indication of weak hands in the market. The Volume Profile Indicator confounds this idea as there is no significant change in average transactions during the rally. Thus, the bulls should consider looking for better buy opportunities in the market. 

tm/xrp/7/19/22

XRP/USDT 12-Hour Chart

A proposed short opportunity could present itself for those willing to take a time-consuming risk. Look for classical sell signals or failure to maintain the current uptrend's slope. Aim for $0.20 and lower. Invalidation for the bearish thesis will be a breach at $0.47. In that case, traders should immediately release their positions as the XRP price could rally as high as $0.68, resulting in a 90% increase in market value.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. 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. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Ethereum price downside risks resurface amidst falling investor interest

Ethereum price downside risks resurface amidst falling investor interest

Ethereum price is trading marginally above $1,300 after its bullish shoots were slashed at $1,400 on Tuesday. The presence of immense buyer congestion at $1,255 cut short the pullback that may very well have tagged $1,200. 

More Ethereum News

This best-case scenario for Litecoin price forecasts a 20% drop

This best-case scenario for Litecoin price forecasts a 20% drop

Litecoin price action over the last few weeks paints a bearish picture, as discussed in our previous article. Since then, LTC has triggered a breakout and is likely to continue heading lower.

More Litecoin News

Shiba Inu price: Ethereum whale swallows 272 billion SHIB, becomes investors’ favorite

Shiba Inu price: Ethereum whale swallows 272 billion SHIB, becomes investors’ favorite

Large wallet investors on the Ethereum network are keen on accumulating Shiba Inu. The 130th largest Ethereum whale scooped up 272 billion Shiba Inu coins overnight. Analysts retain a bullish outlook on the altcoin. 

More Shiba Inu News

Dogecoin price provides sidelined buyers another opportunity before a 50% rally

Dogecoin price provides sidelined buyers another opportunity before a 50% rally

Dogecoin price undid its gains seen between September 21 and 24 as it came tumbling down, following the footsteps of Bitcoin price. This downtrend has provided sidelined buyers a chance to accumulate before the inevitable explosion of bullish momentum.

More Dogecoin News

Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin price takes the first step to recovery but needs solid confirmation that will arrive after a flip of the $19,539 level into a support floor. After a successful flip, investors could expect a move up to an intermediate hurdle at $20,737.

Read full analysis

BTC

ETH

XRP