- Bitcoin price continues to struggle, but a sweep of $19,511 followed by a quick recovery could trigger a recovery rally to $20,692 and $21,874.
- Ethereum price follows Bitcoin’s footsteps and might drop to $1,471 to fill the imbalance.
- Ripple price shows an ascending triangle formation forecasting a 25% breakout from a long-term perspective.
- Bitcoin price reveals a bearish start to the week, which would allow market makers to collect the much-anticipated sell-stop liquidity. This development is extremely important as it may set the base for an upcoming BTC and altcoin-wide recovery rally.
Bitcoin price hints at volatility
Bitcoin price has created equal lows at $19,511, which also coincides with the August low, making it an extremely important level to watch out for. A sweep of the aforementioned barrier could provide the buy signal for a recovery rally, which will be mainly driven by a reversion to the mean price after a 10% crash.
In such a case, investors can expect Bitcoin price to rally to $20,692, which is the midpoint of the $21,874 to $19,511 range. However, clearing this hurdle will lead to a sweep of the $21,874 level.
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