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Bitcoin is flashing multiple bearish signals on the weekly chart: momentum indicators have broken key support levels, the long-term rising channel has failed, and the moving averages are crossing bearishly for the first time this cycle.
Bitcoin is showing multiple bearish technical signals: a break below its long-term rising channel, falling under key moving averages, and the MACD dipping below zero for the first time since early 2022.
Bitcoin is once again pulling back within its long-term rising channel, mirroring previous mid-cycle corrections that ultimately led to new highs. The RSI is approaching its key 45 support level, and the MACD is cooling off but still above zero.
Oil prices remain under significant pressure as rising supply, weak technical signals, and a fragile demand outlook weigh on the market.
Crypto exchange Bitvavo has launched a new short selling feature that allows users to short cryptocurrencies. This means traders can now make money when crypto prices go down, not just when they go up.
The U.S. Securities and Exchange Commission (SEC) has published a new Investor Bulletin explaining how individuals can safely store their cryptocurrency. The guide focuses on crypto wallets, private keys, and the risks involved in different storage methods. While the information itself is not revolutionary for experienced crypto users, the publication is noteworthy given the SEC’s
Strategy has allocated $1.44 billion to ensure it can meet its upcoming dividend and interest obligations. Over the past several months, the company has borrowed heavily and issued various forms of preferred stock, financial instruments that come with strict payment requirements.
Crypto exchange Kraken has secured a massive $800 million in fresh funding, valuing the company at an impressive $20 billion.
For months, the price of Bitcoin has remained relatively flat. Around mid-May, Bitcoin traded near $110,000, and today it’s still hovering around that level. Yet while Bitcoin’s price seems stuck in neutral, publicly traded Bitcoin miners have been on a tear.
The purpose of x-waves is to connect two or three simple corrections. Together with the simple corrections, the x-wave/x-wave’s form a complex correction.
A running correction is a concept that is easy to understand. The problem is to be able to accept that these corrections form often on the currency market.
Elliott Wave has clear rules regarding price targets that must be met, but time is more important and is the secret to master the art of speculation.
The running correction, is, firstly, a correction. It means it refers to the two corrective waves in an impulsive move. These are the second and the fourth waves.
As a rule of thumb, a complex correction is formed of two or three corrective waves, connected by an intervening wave. This intervening wave plays the role of an x-wave. It connects the two or three corrections.
The most comprehensive simple correction is the flat pattern. Here is how Elliott split them further.
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