The upcoming week is expected to be volatile for the cryptocurrency market, with several key economic events scheduled, including inflation rates in the Euro area, Canada, the United Kingdom, and the United States, as well as the FED interest rate announcement.
In a recent video analysis, popular crypto trader JB discusses potential trading ideas for the upcoming week, focusing on Bitcoin, Cardano, XRP, Shiba Inu, and Ethereum.
JB suggests that Bitcoin may be in an irregular flat structure, with price targets at $25,000 and $23,000. Key levels of interest include $27,000 and $28,000.
JB believes that Cardano is likely to push to the downside in the upcoming week. He suggests potential price targets at $0.40 and $0.35.
JB sees a bearish structure in XRP, with potential price targets at $0.30 and $0.25.
JB suggests that Shiba Inu may retrace before dropping further. He sees potential price targets at $0.000010 and $0.000009.
JB predicts a significant move to the downside for Ethereum, with potential price targets at $1,500 and $1,300.
JB’s overall outlook for the cryptocurrency market in the upcoming week is bearish. He emphasizes the importance of careful analysis and offers trading opportunities based on technical indicators and Elliott Wave Theory.