World Crypto Global Official Site | elliott wave theory

Author: Semilore Faleti

Is Bitcoin Headed For A New ATH After $104,000 Triumph? What This Market Expert Thinks

Since reaching a local bottom of $74,000 in mid-April, Bitcoin has seen a market rebound, creating a price uptrend that has lasted over the past three weeks. Notably, the premier cryptocurrency crossed the $100,000 trade mark in the last week to trade as high as $104,300. Following this impressive feat, market analysis X platform NewThoughtCrypto has shared a technical insight on Bitcoins next move. Related Reading: Bitcoin Whale Entry Prices Diverge Sharply Confidence Builds At Higher Levels Bitcoin Macro Outlook Shows Charge To New ATH But A Market Correction Awaits In an X post on May 9, analysts at NewThoughtCrypto provided a macro and micro forecast of the Bitcoin market using the Elliott Wave Theory. In terms of the broad market outlook using the daily chart, these pundits explain that Bitcoins ascent to $104,300 marks the top of the fifth wave in an impulse phase, hinting the market is due for a correction. For context, the Elliott wave theory states that prices move in two major repeating patterns, i.e, the impulse phase, which represents the market trend and is broken into five waves (i-v), and the corrective phase, which consists of wave A-B-C. After completing wave V of the impulse trend, NewThoughtCrypto analysts explain that Bitcoin is expected to experience a market correction, the target of which is usually around the 0.5 and 0.618 Fibonacci retracement level. Using the $104,300 price level as a market top, the projected correction could draw prices to $86,000 – $89,000, a price range around the wave C in the corrective trend. Notably, there is potential for Bitcoin to resume its bullish trend before the correction is over, as there would be a price bounce in line with wave B of the corrective phase. However, NewThoughtCrypto experts expect a complete correction before the premier cryptocurrency relaunches its charge for a new all-time high, which is likely to happen in the summer. Related Reading: Dogecoin Price Continuation Shows Rebound, But Resistance Is Mounting At $0.205 Micro Outlook Hints At $106,000 Target Before Correction In a micro view of the Bitcoin market using the 4-hour chart, the analysts at NewThoughtCrypto state Bitcoin appears to have completed waves I, II, and III, with wave III surpassing market expectations. The flagship crypto is now awaiting wave IV, which is always a corrective wave. With a wave III top at $104,300, the expected market correction would push the price to between $100,000 – $101,000. Thereafter, a bullish wave V is to commence driving prices to $106,000 before the corrective trend begins. At press time, Bitcoin continues to trade at $102,810 following a 0.06% increase in the past day. Meanwhile, daily trading volume is down by 6.68% and valued at $62.23 billion. Featured image from Pexels, chart from Tradingview

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XRP Will ExplodeAnd This Korean Expert Says Hell Be Laughing At Critics

Author: Christian Encila

United Kingdom

Source: NewsBTC

Apr 07, 2025 12:10

XRP Will ExplodeAnd This Korean Expert Says Hell Be Laughing At Critics

A Korean financial analyst who uses the name XForceGlobal has made bold claims about XRP’s future price, stating the cryptocurrency could reach between $10 and $20 in the coming months. The confident prediction comes even as XRP currently trades at $2.07 and the broader cryptocurrency market struggles through a prolonged downtrend. Related Reading: Ethereum Slips Below TriangleIs A $1,600 Crash Next? XRP Shows Unusual Strength Amid Crypto Slump While XRP has dropped more than 5% over the past few weeks, this decline is significantly less severe than what other major cryptocurrencies have experienced. According to the report, top cryptocurrencies like Ethereum have fallen by over 40% in the last three months. Similar sharp drops have hit other popular coins such as Solana and Dogecoin. XForceGlobal, who describes himself as a Certified Elliott Wave Analyst, pointed out that XRP has maintained its position above recent lows while competing cryptocurrencies have plummeted between 45% and 65% from their peaks. This relative stability forms the foundation of his optimistic outlook. I agree 100%, this is just showing that the possibility being there is just telling us how XRP is in its own league even for just wave counts! XForceGlobal (@XForceGlobal) April 2, 2025 Elliott Wave Analysis Points To Massive Gains The analyst’s forecast is based greatly on Elliott Wave theory, a technical analysis technique which tries to predict market action by finding repeating wave patterns. On the basis of his recognition of a 5-wave pattern, XForceGlobal has consistently predicted that XRP will hit $20 to $40 this year or next. Trillion-Dollar Valuation Projections Questioned By Critics Many market observers remain skeptical of such ambitious price targets. For XRP to reach $10, it would need to surge over 370% from its current price. A move to $20 would require an even more dramatic 850% increase. At such prices, XRP’s market capitalization would be around $1 trillion at the $10 level and $2 trillion at $20. Such valuations would be a first for an alternative currency and are the reasons why many analysts believe such forecasts are unrealistic, at least in the short term. Source: CoinGlass CoinGlass: Trading Interest Grows Despite Market Uncertainty In spite of the continued argument regarding the future of XRP, statistics by CoinGlass indicate increasing interest in the cryptocurrency. Open interest on XRP trades has risen to $3.60 billion over the past few days, reports indicate. This increase indicates that traders are opening positions in the asset irrespective of the direction of the market. I will be laughing at everyone who said $XRP can never hit $10-20. XForceGlobal (@XForceGlobal) April 2, 2025 When asked for the timeline of his price forecast, XForceGlobal was not as definite, indicating that it may take a while before XRP gets to the forecasted $10-20 mark. Related Reading: XRP Breakout Alert! Could This Surge Send The Altcoin To $3? Nevertheless, the analyst was confident enough with his technical analysis to assert he would “be laughing at everyone” who are skeptical about XRP’s ability to hit these price levels. With XRP’s year-to-date gains dwindling to mere 0.80%, wiping out all gains since the beginning of 2025, the question is if XForceGlobal’s lofty predictions will materialize or become part of the long list of failed cryptocurrency price projections. Featured image from Gemini Imagen, chart from TradingView

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This Expanding Triangle Pattern Could Be The Last Hope For Bitcoin Bulls

Author: Tony Spilotro

United Kingdom

Source: NewsBTC

May 17, 2022 12:09

This Expanding Triangle Pattern Could Be The Last Hope For Bitcoin Bulls

Bitcoin broke through support and plunged to the lowest prices seen since 2020. However, despite all the fear the drop has caused, it could be the last low before the top cryptocurrency continues its bull run. Here is why an extremely rare Elliott Wave expanding triangle pattern could be the last hope Bitcoin bulls have for new highs before a bear market. Ralph Nelson Elliott And His Theory On How Markets Move Ask most crypto investors and they would probably agree: we are in a bear market. However, based on the guidelines of Elliott Wave Theory, the last year and a half of mostly sideways could be part of one powerful, confusing, and rare corrective pattern. Related Reading | One Coin, Two Trades: Why Bitcoin Futures And Spot Signals Don’t Match Up Elliott Wave Principle was first discovered by Ralph Nelson Elliott in the 1930s. The theory believes all markets move in the direction of the primary trend in the same five-wave pattern. Odd-numbered waves move up with the primary trend as well, while even-numbered waves are corrective in nature that move against the trend. Is Bitcoin trading in an expanding triangle? | Source: BTCUSD on TradingView.com In the chart above, BTCUSD could potentially be trading in an expanding triangle. In Elliott Wave Theory, triangles of any kind only appear immediately preceding the final move of a sequence. During the bear market, a triangle appeared in place of the B wave before breaking down to the bear market bottom. Identifying A Bullish Expanding Triangle Pattern Triangles can contract, expand, descend, ascend, and even take on some “irregular” shapes. The expanding triangle pictured above and below should in theory only occur before the final wave five impulse up. If that’s the case, the bull run could continue once the bottom of the E wave is put in. Each subwave is a Zig-zag similar to wave two | Source: BTCUSD on TradingView.com An expanding triangle is characterized as having five waves that sub-divide into ABCDE corrections. Waves A, C, and E are against the primary trend, while B and D waves are with the primary trend. Each sub-wave further sub-divides into three-wave patterns called a Zig-zag. Zig-zag patterns are sharper, and more commonly appear in wave two corrections. The fact that an expanding triangle has five of these brutal corrections in two different directions makes it especially confusing and frustrating. Expanding triangles only form under the most unusual market conditions. Related Reading | Bitcoin Bear Market Comparison Says It Is Almost Time For Bull Season Extreme uncertainty drives expansive volatility in both directions. Both sides of the trade are repeatedly stopped out of trades, adding to frustration. By the end of the pattern, order books are thin and easily overpowered. Decidedly bearish sentiment squeezes prices up quickly causing an upward breakout of the pattern and continuation of the bull run. The chase and FOMO creates the conditions necessary for wave five. Why Bitcoin Could Still Have Wave Five Ahead The only problem is that there is no telling if this is the correct pattern, or if Bitcoin is in (or possibly just completed) a wave four according to Elliott Wave Theory. Knowing that triangles only appear before the final move of a sequence helps improve the changes of this expanding triangle being valid. However, it is more important to understand the characteristics of each wave. Corrective waves result in ABC or ABCDE corrections (along with some more complex corrections) that move against the primary trend. Between corrections is an impulse wave up, in a five-wave stair-stepping pattern. After the bear market bottom, a new trend emerges starting with wave one. Wave two is often a sharp, Zig-zag style correction that retraces most of wave one. A bear market will move below the zero line on the MACD | Source: BTCUSD on TradingView.com The lack of a new low creates the confidence for more market participants to join, making wave three the most powerful and extended of all. Wave four typically moves sideways and lacks the same severity of the wave two correction. Elliott said that wave four represents hesitancy in the market before finishing the trend. Both wave two and wave four tend to bring the MACD back down to the zero line before reversing higher – a setup clearly depicted above. Related Reading | Bitcoin Indicator Hits Historical Low Not Seen Since 2015 When the hesitancy ends, wave five typically matches the length and magnitude of wave one. But after such a long and nasty wave four correction, any wave five has the potential to extend similar to wave three. If this were the case, the expanding triangle pattern created the perfect shakeout of both sides of the market. Here is a ?? on my full Elliott Wave analysis on #Bitcoin and why I don’t believe there is a bear market – and why I expect the last leg up any day now. — Tony "The Bull" Spilotro (@tonyspilotroBTC) May 15, 2022 Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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Bitcoin Elliott Wave Theory suggests BTC price can drop to $25.5K this year

Author: Cointelegraph By Yashu Gola

United States

Source: Cointelegraph.com News

Feb 24, 2022 04:50

Bitcoin Elliott Wave Theory suggests BTC price can drop to $25.5K this year

The bearish outlook by the Elliot Wave Theory appeared as Bitcoin tumbled below $35,000.

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Chainlink Whales Accumulate $77 Million LINK Amid Price Correction Details

Author: Semilore Faleti

United Kingdom

Source: NewsBTC

Dec 30, 2024 12:05

Chainlink Whales Accumulate $77 Million LINK Amid Price Correction Details

Amid a general market retracement, prominent altcoin Chainlink has recorded a 29.89% price decline from its local market top at $30.31. LINK currently hovers around $21 having failed to move past $26 despite recent uptrends. During this price fall, LINK whales have adopted an accumulation approach signaling confidence in the altcoins long-term profitability. Related Reading: Chainlink Price Could Crash 30% To $15 Heres How Chainlink Whales Acquire 3.58 Million LINK In 3 Days Following a strong bullish performance in early December, the crypto market has undergone a significant correction in the past two weeks attributed to several factors including a flash crash price and potential reductions of Fed rate cuts in 2025. As this corrective market persists, blockchain analytics company Santiment has reported an accumulation spree by LINK whales holding between 1 million-10 million LINK. In an X post on December 28, Santiment states that these large LINK holders have purchased 3.58 million LINK valued at $76.9 million over the past three days. Generally, significant levels of whale accumulation are indicated as bullish signals as these large token holders are confident of future gains. In the case of a price decline such as this, these massive accumulation levels reflect the belief that LINK is currently undervalued with a potential market rebound on the horizon. Related Reading: Chainlink And AAVE Surge After Trumps Crypto Project Invests In Both Key Resistance Levels For LINK While high levels of whale accumulation are one sign of an impending price rally, analysis platform More Crypto Online has shared another positive insight on the LINK market. According to a recent X post, these market analysts state Chainlink still maintains an uptrend on larger time frames despites recent correction with its major support level set at $17.65. Based on the Elliott Wave Theory, If the LINKs price holds above this level, the altcoin is predicted to rise to $69 in line with the expected third wave of the current market cycle. However, for confirmation of a price uptrend, Chainlink must break through resistance levels at $25.10 and $28.30. A decisive five-wave move above these levels would solidify the bullish case and suggest further price appreciation. In Elliott Wave theory, the five-wave structure is a reliable pattern indicating a strong trend continuation, making the breakthrough of these resistance levels pivotal for the ongoing rally. At the time of writing, Chainlink trades at $21.90 reflecting a 1.44% gain in the past 24 hours. However, the asset’s daily trading volume is down by 12.55% and valued at $726.44 million. With a market cap of $13.96 billion, LINK is ranked as the 13th largest cryptocurrency. Featured image from CoinMarketCap, chart from Tradiingview.com

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