Dogecoin, Terra & Bitcoin – American Wrap 25 May

Bullish or bearish? Dogecoin price is primed for a spike in volatility

Dogecoin price continues to display the need for balance within the steep declining price action. The bears have been able to short the digital asset with extending impulse waves since May 12th. The current consolidation is coiling unpredictably. This could be early evidence of bearish exhaustion. Intraday traders should look for A truncated five-wave pattern before the next bullish rally occurs.

Terra’s LUNA fork could happen tomorrow, here’s how you need to prepare

Terra’s LUNA 2.0 testnet is now live, the snapshot could happen on May 26 and the mainnet launch is expected to occur as soon as Friday, May 27, thus completing the LUNA fork. Terra’s mainnet launch will be accompanied by an airdrop for eligible LUNA and UST holders. Whistleblowers from the Terra community have gathered legal support and a litigation fund to file a lawsuit against Terraform Labs and its co-founders. 

Why renowned technical analysts believe Bitcoin price has bottomed out

Bitcoin price has been dominated by bearish sentiment recently, but the BTC trend might be nearing a turnaround. Several leading analysts in the crypto community are arguing that Bitcoin price action has developed in a more irregular manner over the years and diminishing “cycles” imply Bitcoin has bottomed out.