Elliott Wave Analysis TradingLounge Daily Chart, 21 November 23,

Bitcoin / U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave((3))

Direction Next higher Degrees: wave I of Impulse

Wave Cancel invalid level:

Details: Impulse's five-wave rise

Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: Bitcoin recovered well from the 24915.50 level with an impulse rally, leading us to expect a 5-wave rally. The price is currently moving in Wave 4 before rising again in Wave 5 to complete the pattern. Impulse complete.

Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source: Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge 4H Chart, 21 November 23,

Bitcoin / U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave((3))

Direction Next higher Degrees: wave I of Impulse

Wave Cancel invalid level:

Details: Wave 3 may have ended and prices are entering. Correction in Wave 4

Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: Bitcoin recovered well from the 24915.50 level with an impulse rally, leading us to expect a 5-wave rally. The price is currently moving in Wave 4 before rising again in Wave 5 to complete the pattern. Impulse complete.

Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.