Bitcoin: Key support levels are being confirmed, potentially building momentum for a big rise.
Bitcoin has just set a new weekly closing high and is currently busy confirming two key support levels - it stabilized at $109,200 last week, turning the daily trend line into a support level, and is now retesting the previous resistance level.
Analyst Rekt Capital believes this step is crucial: If it can turn the resistance level into a support level, it is highly likely to make new highs, but the process may be very volatile.
From a support perspective, $104,400 and $102,464 (June closing price) are strong supports that can hold the price to continue moving upwards.
Another analyst Daan reminds: The rise and fall 12 days before July may determine the trend for the entire month, and summer usually has small fluctuations; it may not be until autumn and winter that there will be significant movements. It feels more like 'the calm before the storm'.
More importantly, 80% of Bitcoin is held by 'diamond hands' (long-term holders), resulting in very little selling pressure. Historically, after such situations occurred twice, Bitcoin surged significantly - from $43,000 to $73,000, and from $58,000 to over $100,000.
More and more companies (such as Strategy holding nearly 597,000 BTC) are also hoarding coins, and the amount of Bitcoin in exchanges is decreasing, tightening supply.
Some analysts believe that as long as new funds come in, it could surge to $150,000 in one go. Currently, Bitcoin is fluctuating slightly around $108,000.
XRP has been consolidating for several weeks, and bullish signals are emerging.
XRP hasn't reached $2.30 yet, but the bullish momentum is getting stronger. It has been hovering between $2.00 and $2.30 for the past few weeks without making much of an attempt to break through.
However, analyst Ali Martinez has spotted a good signal: XRP has formed an 'inverted head and shoulders' pattern, which is a classic bullish pattern and could rise by 12%.
To achieve this, it must first break through $2.33, and after breaking through, it is expected to surge to $2.60.
Another analyst also mentioned that XRP's Bollinger Bands have narrowed; the last time this happened, it surged six times - this time, there might also be a big opportunity, depending on whether it can seize the moment to break through.
