Bitcoin is currently moving within a clear trading range, bumping up against resistance between $82,000 and $86,000 each time. Technically, a concerning pattern called a bear flag is forming, especially after Bitcoin’s recent drop from its peak of $126,000.
Analyst Gareth Soloway, who previously predicted this price level, notes that the market has hit his target but hasn’t clearly surpassed it. This resistance point aligns with a key technical indicator, the 61.8% Fibonacci retracement. If the price moves and stays above this level, it could test the $86,000 to $87,000 range. However, if it fails to break through, a bearish pattern remains in place, potentially leading to lower prices.
While there’s still a greater than 50% chance of a price decrease, that likelihood has lessened as the recent market pattern continues. It initially stood around 75%, but is now below 70%. Trader Soloway has already sold his Bitcoin and Solana holdings at the current prices.
Ethereum: Cup and Handle Points to $2,700
Ethereum hasn’t been keeping pace with the overall market, but its price chart is starting to suggest a potential upward trend. If this trend continues as expected, Ethereum could reach $2,700. However, a drop below the current support level would signal that this prediction is incorrect and could lead to a larger price decrease.
XRP: Year-Long Trendline at a Breaking Point
XRP is currently testing a long-term downward trend that began in July 2025, with confirmed bounces in October 2025 and January 2026. According to Soloway, he continues to hold a long position in XRP, and has set a clear price level of $1.38 as his point at which he would reconsider that position.
If the price rises above the recent trendline, it could climb to between $1.73 and $1.83. However, a drop below $1.38 would invalidate this potential move. This situation is attractive to traders because it provides a specific entry point, a clear level at which the idea would be proven wrong, and a defined profit target.
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2026-05-13 17:53