Bitcoin is pushing toward $66,000 and one of the most technically rigorous analysts in the crypto space is growing increasingly confident that the worst of the selling is behind us.
Gareth Soloway, Chief Market Strategist at Verified Investing, has been tracking a combination of chart patterns across Bitcoin, Ethereum and XRP that collectively point toward a short-term bullish setup.
Bitcoin: The Double Bottom That Delivered
Soloway flagged the Bitcoin double bottom pattern several weeks ago when the price was testing its lows for the second time. The setup played out almost exactly as expected, with institutional money briefly piercing below the support level to run stops and flush out weak hands before the recovery began. Bitcoin has since bounced and is now approaching $66,000.
What confirmed the bullish bias for Soloway was not just the double bottom itself but the inside bar pattern that followed. Three consecutive red candles failed to close below the initial green reversal candle, a signal he describes as smart money quietly buying into the dip while retail sentiment remained fearful. The same pattern preceded Bitcoin’s run from $64,000 to $83,000 earlier in the cycle, and Soloway sees the current setup as carrying similar characteristics.
Ethereum: First Target at $1,820
Ethereum is showing the same inside bar pattern that Soloway uses to identify high-probability bounces. He remains long on Ethereum and recently took half his position off at a roughly 10% gain as part of his standard money management approach, letting the remaining position run in case the altcoin season he anticipates begins to materialise.
His first major upside target for Ethereum sits at the $1,820 level, which corresponds to a significant previous pivot zone on the chart.
XRP: A Stronger Chart Than Most Realise
Soloway’s read on XRP was positive despite the token’s recent underperformance. The chart is showing a green inside bar setup with a bottoming tail, a combination he described as more powerful than a standard inside bar because the tail indicates buyers stepped in aggressively at the lows rather than simply holding a price level passively.
“This is one of the better charts, believe it or not,” he said of XRP’s current structure. The bottoming tail in particular gives him confidence that a floor of at least one to two months may be in place, with the best-case scenario pointing toward a more extended recovery if broader market conditions cooperate.
Was this writing helpful?
Story Ends Here
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Read the Next News