BTCUSD Crypto Pair Analysis | TradingLounge Daily Chart
Bitcoin / U.S. Dollar (BTCUSD) Daily Chart Analysis
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Next Higher Degree: Wave IV
Wave Cancel Invalid Level: Not specified
Details: The decline of Wave IV appears to be ending, suggesting that BTCUSD may be re-entering an uptrend.
Bitcoin / U.S. Dollar (BTCUSD) Trading Strategy:
The Wave IV correction seems complete, and the price is likely to continue upward. Traders should watch for an opportunity to enter the market as Wave V begins to form.
Bitcoin / U.S. Dollar (BTCUSD) Technical Indicators:
- The price is trading below the MA200, indicating a potential downtrend.
- The Wave Oscillator suggests bearish momentum at this stage.
BTCUSD Elliott Wave Analysis | TradingLounge H4 Chart
Bitcoin / U.S. Dollar (BTCUSD) 4-Hour Chart Analysis
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Next Higher Degree: Wave (2)
Wave Cancel Invalid Level: Not specified
Details: The Wave (2) correction is expected to conclude, signaling a potential re-entry into an uptrend.
Bitcoin / U.S. Dollar (BTCUSD) Trading Strategy:
The Wave 2 correction seems to have completed, and the price is expected to move higher. Traders should look for a chance to join the market as Wave 3 unfolds.
Bitcoin / U.S. Dollar (BTCUSD) Technical Indicators:
Technical Analyst: Kittiampon Somboonsod
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