updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131Bitcoin is turning heads once again as it climbs steadily within a rising channel, teasing a potential explosive move. According to chart watchers, the current rally aligns with Wave (5) of an Elliott Wave structure, historically the phase that unleashes the most aggressive price action. With momentum building and institutional demand ramping up, could this be the final leg before Bitcoin launches toward uncharted territory?
In a recent update, market analyst LSplayQ pointed out that Bitcoin is steadily climbing within a clearly defined rising channel, with the price now trading close to $118,000. This structured upward movement signals strong market confidence, with buyers consistently stepping in at higher levels to support the trend.
The analysis ties this momentum to an unfolding Elliott Wave formation, where Wave (5) is currently in play. The previous waves have displayed a clean pattern of higher highs and higher lows—a signature of impulsive bullish behavior. This suggests that Bitcoin’s price action is not random but follows a predictable rhythm often seen during strong uptrends.
With Wave (5) potentially in progress, LSplayQ believes that Bitcoin could soon challenge the upper boundary of its rising channel. If this plays out as expected, the next target zone could be around the $140,000 region, a level that aligns with the broader technical projection of this ongoing wave structure.
A breakout above the rising channel could spark even more aggressive upside, while any signs of weakness near these resistance levels might indicate a short-term pullback. However, the bullish setup remains intact for now as Wave (5) continues to unfold with precision.
With institutions like Strategy continuing to accumulate, LSplayQ suggests that Bitcoin still has room to push higher. The growing interest from large-scale investors adds weight to the ongoing bullish momentum, further fueling optimism for an extended rally.
However, there are signs that the market may be nearing a temporary exhaustion point. The Relative Strength Index (RSI) is edging toward overbought territory, hinting at a potential cooling-off period. This doesn’t necessarily signal the end of the trend but could open the door for a short-term correction.
Should a pullback occur, traders will likely shift their focus to key support zones. According to LSplayQ, the $99,531 level stands out as a critical area where buyers may step in to defend the uptrend. Holding above that threshold could set the stage for the next leg upward once the consolidation phase concludes.
]]>Microsoft recorded a revenue of $46.15 billion during the prior quarter versus $44.24 billion as expected by analysts according to Refinitiv.
Microsoft Corp (NASDAQ: MSFT) stock traded around $287.12, up 0.20% as of July 27, 2021 7:59 p.m. EDT. MSFT stock closed Tuesday trading at $286.54, down 0.87% from the day’s opening price. Although the volatility was not significantly notable, Microsoft reported its fiscal Q4 2021 earnings and quarterly revenue guidance that exceeded analysts’ expectations.
Notably, the multinational technology company reported adjusted earnings per share of $2.17 versus $1.92 as expected by analysts according to a survey conducted by Refinitiv. Additionally, Microsoft recorded a revenue of $46.15 billion during the prior quarter versus $44.24 billion as expected by analysts according to Refinitiv.
Worth noting, the company’s revenue spiked by 21% year over year in the quarter that concluded on June 30.
Notably, the company’s intelligent cloud segment that includes the Azure public cloud, GitHub, SQL server, and Windows server produced a revenue of $17.38 billion. The figure was 30% higher than what the same segment recorded in the same period last year. According to a poll by StreetAccount on Wall Street analysts, the average expectation on the intelligent cloud segment was $16.33 billion.
On the side of the productivity and business processes unit that encompasses LinkedIn, Office software and Dynamics recorded a revenue of $14.69 billion during the just-concluded quarter. According to a survey conducted by StreetAccount, the productivity and business processes unit was expected to report revenue of $13.93 billion.
On the personal computing segment, Microsoft recorded a revenue of $14.09 billion against $13.74 billion expected by analysts according to a survey conducted by StreetAccount.
Microsoft stock has received notable spotlight from Wall Street analysts who forecast more upwards in the foreseeable future. According to a survey conducted by MarketWatch, MSFT stock received an average of Buy rating from 38 ratings.
This can be grounded in the fact that the company is providing critical services that are needed to rebound the global economy from the Covid pandemic. Moreover, most global investors and companies are shifting to cloud-based and remote-based to ensure the longevity of their services.
According to Microsoft’s earnings report, the company forecast a higher call in the next quarter. Perhaps the main reason for a buy call from most analysts. Notably, the company expects its productivity and business processes unit to report $14.5 billion to $14.75 billion during its first fiscal quarter.
Additionally, the company said that it expects $16.4 billion to $16.65 billion from its intelligent cloud segment in the coming quarter. On the contrary, Wall Street analysts expect the company to record $15.71 billion from the intelligent cloud segment.
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