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.

View Details

Why Litecoin Is The Most Undervalued Asset in Crypto

Litecoin momentum is potentially changing, network usage is skyrocketing, and the cryptocurrency’s halving is ahead. Yet the asset remains drastically undervalued relative to Bitcoin, Ethereum, and other factors. Here is a closer look at why Litecoin could be the most undervalued asset in crypto. LTC Vs BTC Vs ETH Compared Litecoin was once a top [...]

The post Why Litecoin Is The Most Undervalued Asset in Crypto appeared first on Crypto Breaking News.

View Details

Bitcoin Price Double Fractal Points To “Extended” Parabolic Rally

Bitcoin price seems to merely be grinding upwards, with a dusting of chop in between. What corrections have arrived have been minimal, and are shockingly similar in both time and price. This fractal behavior could be a sign of an important Elliott Wave signal, that not only says that BTCUSD is about to go parabolic, [...]

The post Bitcoin Price Double Fractal Points To “Extended” Parabolic Rally appeared first on Crypto Breaking News.

View Details

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

View Details

Check Out This Shocking Pepe Coin Versus Bitcoin Comparison

Pepe coin is the most talked about asset in the crypto market right now. The less than one-month-old meme token has nothing at all to do with Bitcoin, yet shockingly is displaying nearly exact price patterns.  Don’t miss this incredible and unusual chart comparison between BTCUSD and PEPEUSDC.  A Quick Recap Of Pepe Coin And Its Runaway Crypto Success Pepe coin is one of the biggest new meme coins, prompting a massive wave of more meme tokens of all kinds. If you couldn’t tell by the name, much like Dogecoin is associated with the Doge meme, this one features the Matt Furie-created Pepe the Frog. Related Reading: Can Meme Coin PEPE Get Into The Top 100? Read This Before Buying Anyone who invested in Pepe coin over the last couple of weeks “feels good, man.” That is because it has risen in value by over 2,500% in 14 days — numbers that are high even by crypto standards. Most of the supply of holders at this point is in substantial profit. But if the Bitcoin chart is any indication of what’s to come, some serious profit taking could be ahead.  In the comparison below, we have put the 4-hour PEPEUSDC chart up against the weekly BTCUSD chart. The left chart features two weeks of price action, while the chart on the right shows four full years. Yet they are extremely similar.  Bitcoin versus the frog king of the memes | PEPEUSDC on TradingView.com The Unusual Bitcoin Comparison Explained According to study of Elliott Wave Principle, markets are fractal and form self-similar, repeating patterns across various degrees of timeframes. Simply put, the same price action and behavior can appear on an hourly or 4H chart as it does on a much higher timeframe. Related Reading: Sad Frogs: Why The Parabolic Pepe Coin Could Flatten By 80% The study focuses on mass crowd behavior and human psychology, particularly how it can create clearly definable turning points in financial markets.  The two charts looking and behaving so similarly could be due to the same type of speculative behavior.  Importantly, if the comparison is accurate for the reasons discussed, it could indicate that Pepe coin is due for some profit-taking and a correction soon enough. Of course, the meme coin could be nowhere near done and anyone who sells now could be a very, very sad frog.  Did you buy Pepe? Tell us on Twitter. Did you buy #PEPE? Comment = No ??Retweet = Yes ??Like = Soon ?? — NewsBTC (@newsbtc) May 2, 2023 Follow @TonyTheBullBTC & @coinchartist_io on Twitter. 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

View Details