According to a TradingView analyst, the price of bitcoin after the halving could reach $10,000.
Currently, a few days after the halving that is expected to take place next May 12th, the price of BTC is already rising significantly, having recorded a rise of 10% in the last 24 hours, taking as reference, for example, the prices of the Kraken exchange.
And now, according to this new analysis, the price would rise even more after the halving and reach 10k, although there may be some small retracements.
“However, with an overbought RSI on the daily, we can expect a small retracement. If we look at the break-out of this rising wedge, I do expect that the price does not go through the resistance in one clean move. Many people are using the opportunity to get a short in, but I will focus on the overall view here”, explained the trader on TradingView.
Litecoin: the price is bullish
Still on TradingView, another interesting analysis has also been published, this time concerning Litecoin (LTC).
The LTC price seems to be in a bullish phase, partly because, as often happens, the altcoin market follows BTC’s trend hand in hand.
“The next time we can expect a minimum correction to the price-level which you see in my chart marked with the orange box between 45 to 46 as many cryptocurrencies rallied and the market is slightly overbought a healthy correction can come before moving higher upward”, explained the analyst.
What is Ripple doing?
Meanwhile, Ripple (XRP) is undergoing a retracement. In general, the price of XRP hasn’t been doing great since 2019, as it has been losing 27% over the past year.
“There is a possibility of temporary retracement to suggested support line (0.2139). If so, traders can set orders based on Price Action and expect to reach short-term targets,” another trader explained.