{"id":20649,"date":"2022-06-22T11:50:54","date_gmt":"2022-06-22T11:50:54","guid":{"rendered":"http:\/\/egrowonline.com\/?p=20649"},"modified":"2022-06-22T11:50:54","modified_gmt":"2022-06-22T11:50:54","slug":"dead-cat-bounce-or-genuine-bullish-opportunity","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=20649","title":{"rendered":"Dead cat bounce or genuine bullish opportunity?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>Bitcoin price slips below weekly open, suggesting the possibility of a 10% downswing to $17,924.<\/strong><\/li>\n<li><strong>Ethereum price will follow BTC\u2019s and retest the $993 support level.\u00a0<\/strong><\/li>\n<li><strong>Ripple price faces third rejection at the $0.336 hurdle and leans toward a correction to $0.306.<\/strong><\/li>\n<\/ul>\n<p>Bitcoin price shows signs of <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/cryptocurrencies-are-attracting-investors-but-it-will-pass-202206220735\" rel=\"noopener\">exhaustion<\/a> as it reverses the bullish trend seen over the past three days. This has caused Ethereum, Ripple and other altcoins to take a backstep as well. Going forward, investors can expect this minor retracement to evolve into a foothold that bulls will use to extend the run-up.<\/p>\n<h2 class=\"fxs_headline_medium\"><strong>Bitcoin price plans its next step<\/strong><\/h2>\n<p>Bitcoin price climbed past the weekly open at $20,535 and swept Monday\u2019s high at $21,068 on June 22. This bullishness caused a lot of altcoins to trigger <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/top-3-price-prediction-bitcoin-ethereum-ripple-will-losses-be-recovered-this-summer-202206211705\" rel=\"noopener\">exponential rallies<\/a>. However, the exhaustion of buying pressure seems to be leading to a correction that has pushed BTC from $21,705 to $20,416.<\/p>\n<p>This 7% downswing is likely to continue until BTC retests the $19,416 support level. Here, buyers have a chance to rescue the price and lift it higher, continuing the uptrend. However, failure could see Bitcoin price slide lower and sweep Monday\u2019s low at $17,924.\u00a0<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/BTCPERP_2022-06-22_12-55-21-637914839949257610.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"ETH\/USD 4-hour chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/BTCPERP_2022-06-22_12-55-21-637914839949257610.png\" style=\"width: 949px;height: 505px\" \/><\/a><\/p>\n<p><small>BTC\/USD 4-hour chart<\/small><\/p>\n<p>On the other hand, if <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/bitcoin\" rel=\"noopener\">Bitcoin price<\/a> produces a higher high above the June 21 swing high at $21,705 and stabilizes above $21,068, it will invalidate the bearish outlook. This development could see BTC further rally to $23,000.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Can Bitcoin price advance further following the recent rebound?\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/4dj4Uri6eHw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<h3 class=\"fxs_headline_medium\"><strong>Ethereum price prepares to climb higher<\/strong><\/h3>\n<p>Ethereum price <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/where-ethereum-price-can-go-if-bulls-jump-in-202206211332\" rel=\"noopener\">rallied 35%<\/a> between June 19 and June 22 and set a swing high at $1,192. During the process ETH produced a set of higher highs, which then\u00a0 marked a top as bullish momentum exhausted.<\/p>\n<p>This retracement is likely to further drive Ethereum price lower, at least until it revisits the $993 support level. Here, bulls have a chance to rescue ETH and trigger a run-up that could extend beyond the recently setup swing high.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ETHPERP_2022-06-22_12-55-19-637914839888037013.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"ETH\/USD 4-hour chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ETHPERP_2022-06-22_12-55-19-637914839888037013.png\" style=\"width: 950px;height: 505px\" \/><\/a><\/p>\n<p><small>ETH\/USD 4-hour chart<\/small><\/p>\n<p>If Ethereum price produces a four-hour <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/chart\/candlestick-patterns\" rel=\"noopener\">candlestick<\/a> close below $993 without any signs of a quick recovery, however, it will invalidate the bullish thesis. This development will further result in a retest of the $1,219 and $1,283 hurdles.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Where Ethereum price can go if bulls jump in\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/Y_50JtqxLrI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<h3 class=\"fxs_headline_medium\"><strong>Ripple price needs to give it another go\u00a0<\/strong><\/h3>\n<p>Ripple price has faced the $0.336 hurdle three times since June 13. Each time that the bulls triggered a rally to attempt a breakout, it failed. The most recent test was on June 21, which has resulted in a 5% pullback.<\/p>\n<p>This downswing will likely continue until XRP price encounters the $0.306 support floor. A bounce off this level combined with an increase in buying pressure will be the key to triggering an extension of the ongoing uptrend.<\/p>\n<p>If Ripple price manages to flip the $0.336 barrier, XRP might revisit the $0.401 hurdle <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/this-is-what-xrp-price-needs-to-do-to-recover-lost-ground-202206211333\" rel=\"noopener\">after a 19% upswing<\/a>.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/XRPPERP_2022-06-22_12-55-14-637914839879674398.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"XRP\/USD 4-hour chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/XRPPERP_2022-06-22_12-55-14-637914839879674398.png\" style=\"width: 950px;height: 540px\" \/><\/a><\/p>\n<p><small>XRP\/USD 4-hour chart<\/small><\/p>\n<p>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. In such a case, XRP price might crash to $0.250, the next stable support floor.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"This is what XRP price needs to do to recover lost ground\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/Q-oFujI_BfM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/top-3-price-prediction-bitcoin-ethereum-ripple-dead-cat-bounce-or-genuine-bullish-opportunity-202206220848\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price slips below weekly open, suggesting the possibility of a 10% downswing to $17,924. Ethereum price will follow BTC\u2019s and retest the $993 support level.\u00a0 Ripple price faces third rejection at the $0.336 hurdle and leans toward a correction to $0.306. Bitcoin price shows signs of exhaustion as it reverses the bullish trend seen [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[45],"tags":[210,359,4090,779,8365,99],"class_list":["post-20649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-bounce","tag-bullish","tag-cat","tag-dead","tag-genuine","tag-opportunity"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/02\/btcusd_Large.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/20649","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20649"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/20649\/revisions"}],"predecessor-version":[{"id":20650,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/20649\/revisions\/20650"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/7183"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20649"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}