Elliott Wave analysis: Bitcoin is buying the dip [Video]
Bitcoin is coming higher, now finally breaking to new highs of 2023, moving out of a consolidation that has been in play since March of this year. We can see a nice and strong rise now, with some sharp exentions to 35k so we assume that more upside can be seen as recovery on 8h time frame is acting like an impulse. As such, be aware of further gains within a five-wave cycle for wave (C)/(3) up to around 38-40k area. Currently it seems to be still trading in wave 3, potentially finishing subwave "v" of 3, so more upside is in view, just be aware of a higher degree wave 4 correction that can find the support around 33k-31k area.
PEPE price likely to climb higher riding on bullish on-chain metrics
PEPE, one of the largest meme coins in the crypto ecosystem is trading sideways, at the same time as Shiba Inu and Dogecoin prices have seen rallies over the past two weeks.
On-chain metrics for PEPE support a bullish outlook regarding the asset. A price recovery is likely in PEPE, when Social Dominance, Net Realized Profit/Loss and declining exchange supply are considered.
Ripple hits new milestone in payments, likely catalyst for XRP price
Ripple, a cross border payment remittance firm, made several announcements in its annual conference Swell.
The firm hit a key milestone with respect to payments for its customers. The developments are likely to be catalyzed by a boost in XRPLedger and Ripple’s utility.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Render price could rally 20%, supported by Nvidia stock split
Render price looks set to rally if it retests the support zone extending from $9.42 to $8.82. The Nvidia stock split on June 10 could positively impact RNDR, an AI-based altcoin. On-chain data suggests whales are accumulating RNDR tokens.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin’s momentum poise to propel crypto market
Bitcoin price consolidates in a symmetrical triangle pattern, showing directional bias. Ripple also follows BTC’s footsteps as it continues on its 50-day consolidation streak. Ethereum price, on the other hand, shows signs of an incoming correction.
Week Ahead: Altcoins likely to bounce due to short-term bullish wave Premium
Last week was a bummer with Bitcoin (BTC) price consolidation, and altcoins movements showed confusion in their directional bias. Some altcoins saw bullish, impulsive moves, but most trended sideways or slid lower.
Bitcoin sets the stage for a potential “destruction of fiat currency“
In a recent tweet on the social media platform X, formerly Twitter, Peter Brandt, a seasoned analyst, suggested that Bitcoin price could be due for a massive uptrend. He compared the current BTC consolidation to the Stagflation Crisis of 1970.
Bitcoin: BTC likely to provide another buying opportunity Premium
Bitcoin (BTC) price looks weak on the lower timeframes, which might provide opportunities to accumulate. The daily and weekly charts retain their bullish outlook and suggest that the continuation of the 2023 bull run is not a question of “if” but “when.”