The crypto market has been really exciting during the past few days.
Bitcoin was able to surpass the important psychological level of $10k once again, and XRP hit $0,33, which was a massive victory for the XRP army of fans and Ripple enthusiasts as well.
XRP saw lots of positive price movements in 2020 after a boring 2019, during which Ripple was blamed for XRP’s poor price performance.
At the moment of writing this article, XRP is trading in the green, and the coin is priced just below $0.32.
Crypto analyst is bullish on BTC and XRP
It’s been just revealed that crypto analyst Scott Melker is really bullish on BTC and XRP as well.
He revealed his outlook on BTC and more cryptos.
Melker said that BTC is looking really bullish on the daily, monthly, and weekly charts as well.
“[Monthly chart is] incredibly bullish. Anything above the most recent support at $9,243.83 remains as such,” Melker said.
He continued and explained that “The last monthly candle engulfed the previous 2, with a hammer at the bottom – arguably a morning star reversal. There is quite literally nothing bearish about the chart on this time frame.”
He said that he began buying when BTC was about $6,400, and he doesn’t believe that the rally above $10k is over.
“Everyone is a genius in a bull market. We will see how many people actually make it out with their profits…” he said.
Advice for crypt traders
Melker also offered some pretty useful advice for traders, and you can check it out below.
“– Scale out of your trades. This will help remove the pressure of deciding when to exit.
– Take profit often, there’s always another trade. Don’t worry about what happens after you exit.
– Use trailing stops to lock in gains and make sure you never turn a winner into a loser.”
You should also check out his tweets in order to learn more about what he had to say.
He’s also extremely bullish on XRP.