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BlockFi Facing Insolvency
After the bankruptcy of FTX, BlockFi is also facing bankruptcy. Payouts were already stopped last week. The bankruptcy of crypto exchange FTX has sent shockwaves throughout the crypto industry and put many digital currencies under pressure. The industry is now concerned that other crypto exchanges could suffer the same fate. That includes crypto lending service…
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Elliot Wave Analysis of Ethereum
Ethereum’s current wave structure seems to suggest weakness, particularly as it fails to exhibit characteristics of a strong impulsive wave. The current structure, especially Wave 2, lacks the definitive strength typically seen in upward impulses. Instead, Ethereum seems to be developing into a more corrective structure, which could indicate the possibility of a new lower…
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Bitcoin Elliott Wave Analysis
Bitcoin’s price action continues to display strength, and we have reintroduced the bullish scenario back into the chart analysis. As shown in yellow on the chart, Bitcoin has been respecting our key Fibonacci levels, both during the formation of Wave 2 and more recently in Wave 4. After finding support and consolidating at these crucial…
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Bitcoin Elliott Wave Analysis!
After witnessing a sharp recovery that took Bitcoin from around $52,000 to $58,000, we find ourselves at a pivotal moment. The question remains: Is this recovery part of a larger corrective structure, or is it the beginning of an impulsive move to new highs? As of now, the chart presents two possible scenarios that will…