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Crypto markets may be setting up for a short-term bounce, according to market strategist Gareth Soloway. After weeks of pressure and sideways movement, charts for Bitcoin, Ethereum and $XRP are showing patterns that traders often watch for possible upside moves.
But this is not a call for new all-time highs. Instead, it is about short-term trading opportunities with defined risks.
Bitcoin Price Prediction: $80,000 to $85,000 Possible?
Bitcoin is currently trading around the mid-$60,000 range after pulling back from higher levels. On the chart, Bitcoin has formed what traders call a bullish consolidation pattern. This means the price made a move up, then started moving sideways without breaking to new lows.
That is important.
As long as Bitcoin holds above the $60,000 area, the pattern stays valid. If it breaks below $60,000, the setup would likely fail.
If the pattern works, Soloway believes Bitcoin could see a short squeeze that pushes price toward $80,000 to $85,000. From current levels near $67,000, that represents roughly 19% to 25% upside.
He also explains risk versus reward. If someone enters around $67,000 and sets a stop near $60,000, the downside risk is about 10%. But the upside target could be double that. Traders often look for this kind of 2-to-1 reward compared to risk.
Ethereum Price Outlook: Can $ETH Reach $2,600?
Ethereum is showing a similar chart structure.
Ethereum recently formed a green reversal candle and then moved into a tight consolidation range. This type of setup is known as a bull flag, where the price pauses before possibly moving higher again.
If $ETH breaks upward from this range, Soloway sees a likely target near $2,600, and possibly as high as $2,800 in a stronger move. But like Bitcoin, the pattern only holds if support levels remain intact.
$XRP Price Analysis: Resistance at $2
$XRP looks more complicated than the others.
$XRP recently broke major support, then tried to bounce back but faced rejection. Right now, it is stuck below strong resistance.
For $XRP bulls, the key level to watch is $2.00.
If $XRP can break and hold above $2, momentum could build quickly. But until that happens, the chart remains weaker compared to Bitcoin and Ethereum. The area below $2 is described as a “line in the sand” because it represents heavy resistance.
The next few weeks could be important for Bitcoin, Ethereum and $XRP.