$BTC



Market Overview
- BTC is unfolding a classic Elliott Wave impulse, currently correcting in Wave 4.
- This correction has established strong support near the $94,500-$96,000 zone, aligning with the 38.2%-50% Fibonacci retracement of Wave 3.
- The Wave 5 target is projected at $115,000, based on Fibonacci extensions and historical price momentum.

Technical Analysis

1. Wave Count Breakdown:
- Wave 1: Initiation of bullish momentum with a strong breakout.
- Wave 2: Healthy retracement establishing a higher low.
- Wave 3: Extended bullish rally, peaked at $108,000, showing typical impulsive strength.
- Wave 4: Ongoing corrective phase, respecting key Fibonacci retracement levels.
- Wave 5 (Projected): Anticipated bullish rally toward $115,000, potentially extending to $118,000 under strong momentum.

2. Key Levels to Watch:
- Support Zones:
- $93,000-$94,000: Key demand zone where buying interest is evident.
- Break below $92,000 invalidates the bullish Elliott Wave structure.
- Resistance Levels:
- $108,000: Wave 4 high, pivotal for confirming a bullish breakout.
- $115,000: Projected Wave 5 target based on 1.618 Fibonacci extension of Wave 3.
- $118,000: Secondary extension level if bullish momentum sustains.

3. Fibonacci Analysis:
- Wave 4 Correction:
- Aligns with the 38.2%-50% retracement of Wave 3, a standard correction zone.
- Wave 5 Projection:
- Targets 1.618 Fibonacci extension of Wave 3, landing near $115,000.

4. Trendline Analysis:
- A rising trendline connecting Waves 1 and 3 provides structural support.
- Parallel projection supports the expected upward movement toward Wave 5.

Momentum and Indicators

1. RSI (14):
- Wave 4 correction shows RSI consolidating in the 40-50 zone, indicative of oversold conditions.
- A bullish crossover above 50-60 will confirm the start of Wave 5.

2. MACD (12, 26, 9):
- MACD histogram flattening during Wave 4 indicates diminishing bearish pressure.
- A bullish crossover on MACD lines will serve as a strong signal for Wave 5 initiation.

3. Volume Profile:
- Accumulation in the $93,000-$94,000 zone reflects strong institutional interest.
- Wave 5 should see a notable rise in volume as price approaches $108,000 and breaks out toward $115,000.

Trading Plan

1. Entry Points:
- Accumulate positions in the $94,500 - $96,000 support zone.
- Add on breakout confirmation above $108,000 for conservative entries.

2. Stop-Loss:
- Place below $92,000 to limit downside risk and invalidate the current wave structure.

3. Profit Targets:
- Primary Target: $115,000 (Wave 5 Fibonacci extension).
- Stretch Target: $118,000 if momentum sustains post-breakout.

4. Risk Management:
- Risk no more than 1%-2% of capital per trade.

Scenarios

1. Bullish Scenario:
- Price holds the $94,000-$96,000 zone and breaks above $108,000 with volume confirmation.
- Wave 5 achieves $115,000, with possible extensions to $118,000.

2. Bearish Scenario:
- Failure to hold $92,000 invalidates the current Elliott Wave structure.
- Price may retrace deeper, targeting the $88,000-$90,000 zone.

Pro Summary
BTC is setting up for an impulsive Wave 5 rally, with $115,000 as the primary target. A breakout above $108,000 will confirm the next leg of the bullish trend. Maintain a disciplined approach with stops below $92,000 and adjust positions as the price action unfolds. 🚀

Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading cryptocurrencies involves significant risk, and you should do your own research or consult with a professional before making any investment decisions
#BinanceAlphaAlert #BTCNextMove #USUALBullRun #ElSalvadorBTCReserve #USJoblessClaimsFall

The market activity of TRON (TRX) has experienced a remarkable surge, resulting in the company making headlines. In November 2024, TRON achieved an extraordinary $587 billion in USDT transfers, a 30% increase from the previous months.

This remarkable expansion underscores TRON’s status as a preeminent blockchain platform for stablecoin transactions, which are distinguished by their rapid transaction speed and low fees. TRON’s deflationary model and the growing popularity of stablecoins may pave the way for even more substantial price increases as the cryptocurrency market continues to develop.

USDT Transfer Volume on TRON Reaches All-Time High of $587.2B (Monthly)

“Stablecoins have seen remarkable growth, driven by strong interest in cryptocurrencies over recent months. TRON has emerged as the leading blockchain for stablecoin transfers.

This chart highlights the… pic.twitter.com/150KEggTlK

— CryptoQuant.com (@cryptoquant_com) December 14, 2024

Further Growth & Technical Analysis

TRON, which is currently trading at $0.279, has demonstrated robust upward momentum following a reversal from a support level of approximately $0.2400, as indicated by recent technical analysis. Analysts anticipate that it will surpass the subsequent resistance level of $0.3200, which previously impeded its price at the beginning of December.

The present positive attitude in the crypto markets supports this point of view since it suggests that TRON might keep on its upward path. Given that TRON’s market capitalization currently exceeds $35 billion, its rapid expansion reflects a more general trend of capital moving into established cryptocurrencies as investors search for stability in face of market volatility.

Expert Foresees A Promising Future

Andrew Griffiths, an expert in cryptocurrencies, thinks that TRON could soon hit $3 to $5. He says that the network’s popularity as a stablecoin and payment tool is the reason for this growth. The rising demand for USDT can help TRON become a bigger player in the crypto world.

#TRX TRON is heading towards its apex, once it squeezes at that level, it will blow out, this will happen sooner than later, possibly in the next few months, target is 3-5 USD with an insanely deflationary model and the fastest blockchain for payment processing, nothing is… pic.twitter.com/b0xhgqhABT

— Andrew Griffiths (@AndrewGriUK) December 13, 2024

TRON’s recent performance has not gone unnoticed; it has become a darling among investors seeking consistent returns. It is an appealing choice for developers who are designing decentralized applications (dApps) due to its robust infrastructure, which enables thousands of transactions per second.

Additionally, TRON is expected to sustain its upward trajectory amid ongoing advancements in the crypto sector, such as technological upgrades and partnerships.

The Road Ahead

TRX lately peaked at $0.45, doubling its valuation over night and raising its market value to $39 billion. With founder Justin Sun’s strategic $30 million investment in World Liberty Financial, the company’s trajectory has improved and TRON is now a major player in the blockchain scene.

Featured image from Fast Company, chart from TradingView

Source: NewsBTC.com

The post TRON Targets $5 As Stablecoin Supremacy Drives Market Surge — Analyst appeared first on Crypto Breaking News.

#MOVE

Good work🔥
tlgm: freecryptoxp