Bitcoin To Reach Escape Velocity? Analyst Makes The Case

An analyst has explained how Bitcoin seems to be showing a good setup to reach escape velocity based on the trend in this indicator. Bitcoin VWAP Oscillator Has Been Showing A Bullish Divergence As explained by analyst Willy Woo in a new post on X, a bullish divergence has appeared to be forming in the [...]

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Analyst Says $71,000 Bitcoin Move Is Only Halfway Through, Heres Why

An analyst has explained how the current Bitcoin surge appears to have hit the halfway completion mark if this indicator is to go by. Bitcoin VWAP Oscillator Suggests BTC Rally Only Halfway Done In a new post on X, analyst Willy Woo has posted an update for how the Bitcoin Volume Weighted Average Price (VWAP) Oscillator is looking like after the latest rally. The VWAP is an indicator that, as its full form suggests, calculates an average price for the cryptocurrency based on not just the changes in the price over the day but also the volume that was traded at these prices. Related Reading: Litecoin Whales Go On $230 Million Buying Spree: Will This Change LTCs Stars? Normally, this volume is measured using the spot volume data provided by centralized exchanges. Still, in the case of Bitcoin, the blockchain is available for anyone to explore, so on-chain volume is used to calculate the VWAP instead. The VWAP Oscillator, which is the actual metric of interest here, takes the ratio between the cryptocurrency’s spot price and the VWAP and represents it as an oscillator around zero. Earlier in the month, Woo had pointed out how the Bitcoin VWAP Oscillator was forming a bullish divergence for the asset. As is visible in the chart, the Bitcoin VWAP Oscillator climbed up inside the negative territory after forming an apparent bottom back then. At the same time, the cryptocurrency’s price had been heading down instead. In the past, such a setup has proven to be bullish for the coin, and the resulting bullish momentum usually lasts until the VWAP Oscillator tops out in positive territory. As such, the analyst remarked that the coin had a lot of room to run back then. Since then, the price has experienced a recovery rally, potentially suggesting that the bullish divergence may be paying off. As Woo pointed out, the indicator has returned to the neutral mark after this run. Based on the fact that tops in the past have occurred after the metric peaks in the positive territory and based on the scale of these peaks usually, the analyst concludes, “this Bitcoin move is now at the halfway mark.” Related Reading: Bulls In Control: Ethereum Longs See Biggest Candle Ever After ETF News As for how things could play out next, the analyst says, Consolidation under all-time-high needs to happen for a little, then we see if the second leg gives us escape velocity to new highs which will open up the flood gates. Woo has also shared a “risk signal” for Bitcoin, which shows where the asset is when looking at the bigger picture. BTC may be in that part of the cycle where risk begins to drive up as price reacts violently to capital inflows. “That’s where most of the fast gains happen,” notes the analyst. BTC Price Bitcoin had recovered above $71,000 earlier in the day, but the asset appears to have seen a pullback since then, as it’s now back below $70,000. Featured image from Shutterstock.com, woocharts.com, chart from TradingView.com

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Cardano Market Structure Says Crash Is Coming, But $0.9 Is Still In The Cards

Cardano (ADA) is flashing mixed signals as its market structure hints at an imminent short-term price crash. While bearish indicators suggest a possible decline, a crypto analyst reveals that the broader trend remains intact, with technical patterns supporting the potential for a rally toward the $0.9 mark. Cardano Price Crash Incoming TradingView Crypto analyst SiDec has released a bearish price forecast for Cardano, anticipating a significant correction toward the $0.75 area in the coming days. This cautious outlook is based on detailed analysis using Elliott Wave Theory, Fibonacci tools, and critical price action zones.  Related Reading: Crypto Analyst Releases Next Potential Targets For Cardano, Is $1 ADA Still Possible? SiDec has stated that ADAs price continues to consolidate after completing a 5-wave impulse move, signaling the end of its upward momentum. Following this strong impulse rally, the cryptocurrency is now exhibiting a classic Elliott Wave behavior, transitioning into a textbook ABC corrective pattern.  The cryptocurrency first experienced a pull-back, labeled as Wave A on the price chart, followed by a temporary recovery in Wave B. According to SiDec, Wave C is expected to complete the retracement pattern, with ADAs final downward move nearing its end.  Currently, technical indicators and price action point to the $0.705 region as a high-probability long entry zone. The TradingView analyst also clarifies where ADA might find solid support during this corrective phase using Fibonacci Retracement zones. The 50% retracement level of the entire bullish 5-wave impulse is positioned approximately at $0.7534 a critical price point that coincides closely with ADAs previous price swing at $0.746. This former resistance level has yet to be revisited, making it a natural support candidate.  The analysis further identifies a 1:1 ABC extension for the anticipated correction in ADA, placing Wave Cs potential crash target around $0.7492. This also creates a tight cluster of technical indicators in the range of roughly $0.75, indicating a strong support zone.  Further supporting this level, the daily 21 Exponential Moving Average (EMA) stands at $0.7455, while the daily 21 Simple Moving Average (SMA) is slightly lower at $0.7347. SiDec has also identified the Point of Control (POC), which marks the price with the highest volume, near $0.7318.  The analyst further highlights that Cardanos anchored Volume Weighted Average Price (VWAP) resides within the $0.75 support zone. At the same time, the Pitchfork tools golden pocket aligns dynamically as support around the same area.  ADA Price Path To $0.92 Holds Firm While SiDec eyes a potential crash to new lows for ADA in the near term, the analysts chart also shows a green zone, with a projected bullish bounce drawn. Following its Wave C crash, Cardano is expected to rebound and approach the $0.92 level.  Related Reading: Cardano Price Set For 300% Explosion With Major Bullish Impulse The TradingView analyst has advised caution around this area, as $0.92 acts as a significant resistance zone and coincides with a prior liquidity zone that could trigger rejection or profit-taking.  SiDec has emphasized that the risk-to-reward ratio around this area will only become favorable once there is clear confirmation, such as an SFP, a bearish engulfing candle, or visible divergence. Overall, if the $0.75 support zone holds, Cardano, which is currently trading at $0.78, could be positioned for a strong recovery toward $0.92 and beyond. Featured image from Unsplash, chart from Tradingview.com

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The Silver To Bitcoins Gold: Why A Litecoin ETF Could Drive Price To $800

Crypto analyst EXCAVO has alluded to the potential Litecoin ETFs and how they spark a massive price surge for LTC. The analyst also revealed how high LTC could rally to at the end of this bull cycle thanks to these ETFs.  How The Litecoin ETFs Could Drive LTCs Price To $800 In a TradingView post, EXCAVO highlighted the Litecoin ETFs as one of the factors that could drive LTCs price to $800 at the end of the cycle. He noted that Litecoin is just a fork of Bitcoin, and there is not much technology in it. However, he added that a decentralization and adoption issue is occurring, making LTC a suitable candidate for a potential ETF.  Related Reading: Meet The New King Of Crypto Payments: Why Users Are Choosing Litecoin Over Bitcoin The analyst indicated that these Litecoin ETFs are one of the bullish fundamentals that could send LTC to this price target. Grayscale. Canary Capital and CoinShares have all applied with the SEC to offer a Litecoin ETF. According to Bloomberg analysts Eric Balchunas and James Seyffart, there is a 90% chance of the US SEC approving these funds this year.  As such, if approved this year, these Litecoin ETFs could easily send the LTC price to $800, as EXCAVO predicted. Meanwhile, from a technical analysis perspective, the analyst also stated that the crypto has a standard triangle with horizontal resistance on top. He added that such resistances tend to break out strongly. As such, the analyst is confident that LTC can reach $800 in this cycle thanks to its bullish fundamentals and technicals.  EXCAVO also alluded to the LTC/BTC pair, noting that the fall has stopped and the bottom has been minimized. In line with this, he remarked that he expects an upward jump soon enough.  LTC Is Headed To $180 In The Short Term In an X post, crypto analyst Dom opined that the Litecoin price is headed to $180. This came as he explained why he doesnt believe LTC has topped in this cycle. Alluding to historical patterns, the analyst asserted that Litecoins chart is nothing like a topping formation. He added that tops have always been put in quickly.  Related Reading: Forget Bitcoin Holders: Litecoin Investors Are The Real Diamond Hands, According To This Metric Dom also remarked that Litecoins price is bullish, above the all-time high (ATH) Volume-weighted average price (VWAP). However, he added that a full invalidation would be an acceptance below $103.  Meanwhile, crypto analyst Crypto Bullet highlighted how LTC will fly soon. His accompanying chart showed that the Litecoin price could reach $210 when this parabolic rally happens. Crypto analyst Charting Guy is also bullish on Litecoin, describing it as XRP 2.0, indicating that it could make a comeback like XRP did last year.  At the time of writing, the Litecoin price is trading at around $123, down almost 1% in the last 24 hours, according to data from CoinMarketCap. Featured image from iStock, chart from Tradingview.com

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