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. The ongoing Bitcoin (BTC) price correction could continue as per almost a century-old technical analysis principle called "Elliott Wave Theory."The interim bearish outlook put forth by the Elliot Wave Theory appeared as Bitcoin tumbled below $35,000 amid the Russia-Ukraine conflict.Bitcoin wave fractal eyes repetitionThe theory, which divides a price cycle into two sets—one consisting of five upward-trending impulse waves and the other having three follow-up corrective waves—points to the possibility....
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Egrag Crypto, a well-known crypto analyst on the social media platform X, recently shared an optimistic price prediction for XRP. According to the analyst, technical analysis of the XRP price on the weekly timeframe suggests that XRP is on track to reach a price target of $15 by May 5, 2025. Related Reading: CME Gap Threatens Bitcoin With Potential Drop To $77,000 – Analyst The analysis, which is rooted in Fibonacci levels and Elliott Wave theory, offers a long-term bullish outlook for the altcoin despite its recent decline over the past week. This is because the XRP price has been on a....
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....
Amid a general crypto market rebound, SUI stood out from the crowd, emerging as the second-highest weekly gainer, rising by 67.21%. The prominent altcoin has been one of the major headliners of the current market cycle, increasing by 192.70% in the past year. However, certain market technical indicators show that SUI is likely headed for a correction following its most recent explosive gains. Related Reading: SUI Price Soars Despite Overbought RSI – Can The Rally Sustain? Elliott Wave Count Suggests Pullback Looms For SUI In an X post on Friday, X market analytics handle More Crypto....
Bitcoin prices took a dramatic drop yesterday, despite having given indications that price wanted to go higher. Prices have rallied back to almost the high, but there are now indications that bulls should be wary. Elliott Wave theory suggests that corrective waves often take a 5-3-5 pattern. In this case, it is often the case that the 1st and 3rd waves are related to one another in a Fibonacci relationship. In other words, the third wave might be .618 of the first wave, or often, the waves might be the same size in terms of price. That is exactly what we saw yesterday. The collapse....
In this episode of NewsBTC’s all-new daily technical analysis videos, we are looking at the total crypto market cap using Elliott Wave Theory. Specifically, this episode looks at where the current corrective phase may be along with where the cryptocurrency market is in its overall bull cycle. Take a look at the video below. VIDEO: Total Crypto Market Cap Analysis (TOTAL): August 24, 2022 Looking at the total cryptocurrency weekly chart, we examine the different types of corrections the crypto market might be in according to common Elliott Wave corrective patterns. Elliott Wave Theory....