BTCUSD Elliott Wave Analysis: Daily Chart Overview
Bitcoin / U.S. Dollar (BTCUSD) Daily Chart Analysis
BTCUSD Elliott Wave Technical Insights
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Direction Next Higher Degree: Wave IV
Wave Cancel Invalid Level: Not specified
Details: The decline in Wave IV appears to be nearing completion, with the price likely poised to resume its uptrend.
Bitcoin / U.S. Dollar (BTCUSD) Trading Strategy:
It seems that the Wave IV correction has ended, suggesting a potential upward move. Traders should consider opportunities to enter the Wave V uptrend.
Bitcoin / U.S. Dollar (BTCUSD) Technical Indicators:
- The price remains below the MA200, signaling a downtrend.
- The Wave Oscillator indicates bearish momentum.
BTCUSD Elliott Wave Analysis: 4-Hour Chart Overview
Bitcoin / U.S. Dollar (BTCUSD) 4-Hour Chart Analysis
BTCUSD Elliott Wave Technical Insights
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave B
Direction Next Higher Degree: Wave (2)
Wave Cancel Invalid Level: Not specified
Details: Wave (2) appears to be concluding, with the price likely shifting back to an uptrend.
Bitcoin / U.S. Dollar (BTCUSD) Trading Strategy:
With the Wave 2 correction potentially complete, the price could start moving higher. Look for an opportunity to participate in the Wave 3 uptrend.
Bitcoin / U.S. Dollar (BTCUSD) Technical Indicators:
- The price remains below the MA200, indicating a continued downtrend.
- The Wave Oscillator reflects bearish momentum.
Technical Analyst: Kittiampon Somboonsod
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