Skip to content
Crypto News Focus logo CNF_CRYPTO_NEWS_FOCUS_LOGO 8

Crypto News Focus

your day to day crypto news site

Primary Menu
  • Home
  • News
    • Bitcoin News
    • Ripple XRP news
    • Ethereum News
    • Cardano News
    • Shiba Inu News
    • Pi Network News
    • More
  • Analysis
  • PR Desk
  • About Us
  • General Policy & Privacy
  • Guides
    • Bitcoin Guides
    • Pi Network Guide
    • Cardano Guide
  • Politics
  • Tech
  • Home
  • Blog
  • Bitcoin’s Next Bull Run: Elliott Wave Analysis Predicts Major Gains
  • Blog

Bitcoin’s Next Bull Run: Elliott Wave Analysis Predicts Major Gains

Jane Kariuki 15 July 2024
Bitcoin Price chart in the background
  • Bitcoin’s recent technical analysis indicates the end of a correction and predicts a significant uptrend, aiming for a rise above $72,660.
  • Key indicators, including the MA200 and Wave Oscillator, support this bullish outlook, suggesting a strong buying opportunity for investors.

Bitcoin’s Elliott Wave Analysis

Bitcoin, the world’s leading cryptocurrency, is poised for a significant uptrend according to the latest Elliott Wave technical analysis. After a correction that found its bottom at the $53,534 level, Bitcoin has resumed its upward trajectory. The current wave (V) is anticipated to push Bitcoin’s price above the $72,660 mark, presenting a lucrative opportunity for investors to join the uptrend.

Technical Indicators Signal Strong Bullish Momentum

Several key technical indicators bolster this optimistic outlook. Bitcoin’s price is currently trading above the MA200 (200-day moving average), a critical level that typically signals a sustained uptrend. This positioning above the MA200 indicates that Bitcoin has strong support, reducing the likelihood of significant downward corrections in the near term.

Additionally, the Wave Oscillator, a momentum indicator used in Elliott Wave analysis, shows bullish momentum. This oscillator’s positive readings suggest that the buying pressure is strong and likely to continue, further supporting the forecast of a substantial price increase.

Trading Strategy: Seize the Uptrend Opportunity

Given these promising technical signals, the recommended trading strategy is to look for opportunities to enter the market and capitalize on the expected uptrend. With the correction phase ending at $53,534 and the wave (V) in motion, investors should aim to enter positions that align with the anticipated rise above $72,660.

It’s crucial for traders to monitor the price movements closely and use appropriate risk management strategies. Setting stop-loss orders slightly below the MA200 can help protect against unexpected market reversals. Additionally, keeping an eye on the Wave Oscillator for any signs of decreasing momentum can provide early warning signals to adjust positions accordingly.

Bitcoin’s Path to New Heights

Bitcoin’s Elliott Wave technical analysis paints a bright picture for the cryptocurrency’s near-term future. The alignment of key technical indicators, including the MA200 and the Wave Oscillator, supports the forecast of a significant uptrend. As Bitcoin’s price looks set to rise above $72,660, traders and investors should consider this an opportune moment to join the bullish wave and potentially reap substantial rewards. Always remember to stay informed and vigilant, as the dynamic nature of cryptocurrency markets requires continuous monitoring and adaptive strategies.

Continue Reading

Previous: Solana’s (SOL) Meteoric Rise in the NFT Ecosystem
Next: Solana Breaks 1,000 TPS Barrier: What It Means for Crypto

Related Stories

Pi Network or Pi COIN logo on black
  • Blog

Inside Pi Network: Meet The Founders Behind the Ambitious Crypto Project

Dennis Gatheca 28 May 2025
Iota launching
  • Blog

Why Everyone’s Talking About IOTA Again- Only a Week to Go!

Simon Njenga 28 April 2025
Terra luna classic LUNC with price chart at the back
  • Blog

LUNC Lives On: Terra Classic’s Utility and Burn Mechanism Explained

Cal Evans 18 April 2025

For general inquiries, please email us at Info@cryptonewsfocus.com

Crypto news focus is your day-to-day crypto news site. Get all the latest News and trends in the crypto, blockchain, and DeFi space. For more info and inquiries, reach out via email at info@cryptonewsfocus.com

You may have missed

Cardano ADA under the sand
  • Analysis

Cardano Hits 110 Million Transactions as DeFi and NFT Adoption Grow

Sean Williams 2 June 2025
Ripple Logo on a black background
  • News

Ripple Challenges SWIFT with XRP and RLUSD Stablecoin Payment Platform

vivian 2 June 2025
SOLANA PRICE ANALYSIS IMAGE
  • Analysis

Solana Faces Pressure Below $160 with Support at $155 and $152

Cal Evans 2 June 2025
Ethereum ETH coin on a blackish background
  • News

SEC Questions Legality of Ethereum and Solana ETFs with Staking Features

Sean Williams 2 June 2025

Social Media

Crypto News Focus © All rights reserved | MoreNews by AF themes.
Go to mobile version
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok