May 16, 8:30 pm
|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. 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 contrac...
May 12, 11:21 am
|Tether (USDT) Loses Peg As Mayhem in Stablecoin Continues|
Tether (USDT) lost its dollar parity on Thursday as UST's debacle sent shockwaves across the stablecoin market amid serious sell pressure in the wider industry.
According to CoinMarketCap, the slump has been as low as $0.97.
On the other hand, USDT fell to $0.969 on Coinbase but has since recovered and was trading near $0.98.
The reason can be att...
May 09, 5:30 pm
|Biggest Movers: DOT, ADA, SHIB Down More Than 10%, as WAVES Rallies on M...|
Monday's downturn in crypto markets sent several tokens lower, with cardano, polkadot and shiba inu all falling by over 15%. Despite this, there were some notable exceptions which rose to start the week, WAVES being one of them.
WAVES was trading in the green on Monday, as prices rose by as much as 9% during the first trading day of the week....
May 06, 3:02 pm
|Biggest Movers: WAVES Drops 17% as NEAR, SOL, and AVAX Also Take Double-...|
WAVES dropped by as much as 17% in today's session, as crypto markets as a whole traded mostly in the red. SOL and NEAR were two notable tokens to fall in today's session, with AVAX also falling by double digits today.
WAVES dropped for a second consecutive session, as prices moved towards the long-term support level on Friday.