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AVAX Eyes $147 Target as Elliott Wave Pattern Signals Multi-Year Recovery Phase

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21Shares Introduces JitoSOL ETP to Offer Staking Rewards via Solana

TLDR:

  • AVAX completed Wave 1 between $8-$5, now entering Wave 2 recovery phase within descending channel 
  • CryptoPatel targets $33, $58, $97, and $147 representing potential 2,489% expansion from bottom 
  • Critical support at $5.50 must hold on weekly close to maintain bullish Elliott Wave structure 
  • Analysis suggests multi-year setup through 2026-2027 suited for spot accumulation and patience

 

AVAX traders are monitoring a technical analysis that suggests the token could target $147 in the coming years. Crypto analyst CryptoPatel has identified an Elliott Wave formation on the weekly chart, indicating a possible recovery phase after a 95% correction from the 2021 all-time high.

The analysis places AVAX at a critical inflection point, with the asset trading within a multi-year descending channel.

Price action currently hovers near $8.86, presenting what the analyst describes as a macro support accumulation zone.

Technical Structure Shows Wave Completion

The technical framework outlined by CryptoPatel centers on Elliott Wave theory applied to AVAX’s weekly timeframe. According to the analysis shared on X, Wave 1 completed between $8 and $5, marking a macro bottom for the current cycle.

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The token now enters what the analyst labels as Wave 2, representing an early recovery phase from the previous correction.

The descending channel formation has contained price action since the 2021 peak. This pattern shows a bearish breakdown followed by a retest of the lower trendline, creating what technical analysts call a deviation setup.

Market structure at these levels suggests accumulation by institutional participants, though this remains speculative based on price behavior rather than confirmed data.

Support zones have formed between $8 and $7, coinciding with weekly demand areas. The liquidity sweep into these zones mirrors fractal patterns from previous market cycles.

Additionally, the compression phase resembles historical accumulation periods that preceded major rallies in past bull markets.

Price Targets Extend Beyond $100 Mark

CryptoPatel’s forecast includes four distinct targets as the Elliott Wave structure potentially unfolds through 2026 and 2027. The progression starts at $33, followed by $58, then $97, before reaching a final target of $147.

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These levels correspond to the mid-channel resistance and eventual upper boundary of the descending formation. From the identified bottom to the highest target, the expansion measures approximately 2,489%.

The bullish scenario requires sustained weekly strength with expansion toward mid-channel resistance zones. Price must demonstrate momentum capable of breaking through overhead supply levels that accumulated during the extended correction. However, the analysis also establishes clear invalidation parameters to manage risk exposure.

The critical support level sits at $5.50, representing the Wave 1 low. A weekly close beneath this threshold would negate the Elliott Wave count and suggest further downside potential. This makes the $5.50 level essential for bulls to defend on higher timeframes.

The analyst characterizes this setup as appropriate for spot accumulation and long-term positioning rather than short-term trading.

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The asymmetric risk-reward profile stems from proximity to identified support versus the distance to upside targets.

Patience remains necessary as weekly timeframe patterns develop over extended periods, typically spanning months or years rather than days or weeks.

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Square launches zero-fee Bitcoin payments for US merchants through 2026: Square

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Square launches zero-fee Bitcoin payments for US merchants through 2026: Square


Square is waiving processing fees for Bitcoin payments at US merchants for two years, with instant dollar conversion to reduce adoption barriers.

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$80M Hyperliquid Whale Bet Predicts Bitcoin Crash and Oil Rally

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$80M Hyperliquid Whale Bet Predicts Bitcoin Crash and Oil Rally

Key takeaways:

  • A Hyperliquid whale placed an $80 million bet against Bitcoin and the S&P 500 while going long on Brent crude oil prices.

  • The whale’s history of massive losses and inconsistent signals suggests the trade could fall on the wrong side of the market.

Bitcoin (BTC) showed strength on Wednesday, bouncing back from Tuesday’s $66,000 low after President Donald Trump teased a potential ceasefire in the US and Israel-Iran war. Even with Bitcoin trading above $68,000, one whale used Hyperliquid DEX to place an $80 million bet on a market collapse. 

Traders are now watching closely to see if this whale’s massive position signals a looming Bitcoin price drop.

Hyperliquid whale 0x94d373…c933814 position. Source: CoinGlass

The Hyperliquid whale, linked to address 0x94d373…c933814, carefully built this nearly $80 million leveraged position between Tuesday and Wednesday. The trade includes a $40 million short (sell) on Bitcoin futures near $68,760, a $2 million short on synthetic S&P 500 Index contracts, and a $37 million long (buy) in synthetic Brent oil contracts.

Crude Brent oil (left) vs. Bitcoin/USD (right). Source: TradingView

The whale’s aggregate position leverage stood at 7 times, indicating high conviction. The Bitcoin futures liquidation price was $80,083, while the Brent oil position would be forcefully terminated above $93. The timing of the trade is curious as S&P 500 Index futures gained 4% between Tuesday and Wednesday as traders anticipate the US and Israel-Iran war dissipating over the next few weeks.

On Wednesday, President Trump said “Iran’s New Regime President” is considering a “ceasefire,” although the conditions to fully reopen the Strait of Hormuz remain unknown. Iran demands reparations and sovereignty. Thus, one could assume that the Hyperliquid whale is counter-trading the market’s optimistic take, betting that Brent crude oil prices will jump while Bitcoin loses its value.

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This Hyperliquid whale previously lost $40 million

This address belongs to a particularly unlucky whale, or at least one who has been extremely unsuccessful since late January. The Hyperliquid whale apparently uses bots for execution, given the sheer number of small trades that build into huge positions, but it still managed to lose $37 million in its first month of activity in December 2025.

The same user was flagged by X user ‘lookonchain’ on Feb. 5 after taking a massive loss on leveraged bullish bets on Ether (ETH), Bitcoin, Solana (SOL), and XRP (XRP). 

Source: X/lookonchain

According to the analysis, the whale had previously made $25 million in profits from shorts in multiple cryptocurrencies, but decided to flip the position on Feb. 4, resulting in a $40 million loss. There is no way to know exactly what triggered this entity to place those bets, but the event proves that even whales can misinterpret the market.

Related: Warren Buffett bought $17B in US T-bills: A bad omen for Bitcoin price?

The erratic signals from President Trump regarding a potential full-on invasion and the war in Iran leave room for opposing views. Iranian Foreign Minister Abbas Araghchi denied there were talks for a ceasefire but confirmed to Al Jazeera on Tuesday that there was an intention to end the war, according to CNBC.

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Given the history of this whale’s market positioning and its track record of losing trades, it’s possible that the current $80 million bet may fall on the wrong side of the market.