Bitcoin/U.S. Dollar Elliott Wave Analysis – TradingLounge Daily Chart

BTCUSD Pair Daily Chart Analysis

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Next Higher Degree Direction: Wave IV

Wave Cancelation Level: Not specified

Details: The ongoing decline in wave IV is showing signs of completion. Bitcoin is likely to re-enter its uptrend soon.

Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy

The wave IV correction seems to be finishing, and the price is positioned to resume its upward movement. This presents a potential opportunity to join the wave V uptrend.

Bitcoin/U.S. Dollar (BTCUSD) Technical Indicators

  • The price is currently above the 200-day moving average (MA200), suggesting a bullish trend.

  • The Wave Oscillator, however, shows signs of bearish momentum.

BTCUSD-1D-Crypto-Cha...


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 Direction: Wave (2)

Wave Cancelation Level: Not specified

Details: The wave (2) correction appears to be ending, indicating that Bitcoin may soon continue its upward trend.

Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy

The completion of wave (2) correction suggests an upcoming move to the upside. Traders should look for opportunities to enter the wave (3) uptrend.

Bitcoin/U.S. Dollar (BTCUSD) Technical Indicators

  • The price is positioned above the 200-day moving average (MA200), signaling a bullish trend.

  • The Wave Oscillator indicates bearish momentum.

Technical Analyst:  Kittiampon Somboonsod

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: NEO/USD (NEOUSD) Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

BTCUSD-4h-Crypto-Cha...

Related

Understanding of the EURUSD's Forecast, Counter-Trend Movements, and Potential Market Shifts: EURUSD Elliott Wave Analysis

Understanding of the EURUSD's Forecast, Counter-Trend Movements, and Potential Market Shifts: EURUSD Elliott Wave Analysis

This EURUSD Elliott Wave analysis offers an in-depth view of the Euro Dollar's corrective wave p...

Read More >
We covers it all Bovespa Index Trading, Combining Elliott Wave Technical Analysis with up-to-date Bovespa Market Trends

We covers it all Bovespa Index Trading, Combining Elliott Wave Technical Analysis with up-to-date Bovespa Market Trends

This guide provides an in-depth look at Bovespa Index trading, combining Elliott Wave analysis with ...

Read More >
Our detailed U.S.Dollar /Canadian Dollar (USD/CAD) Forex Elliott Wave Technical Analysis: Market Dynamics for this Currency Pair.

Our detailed U.S.Dollar /Canadian Dollar (USD/CAD) Forex Elliott Wave Technical Analysis: Market Dynamics for this Currency Pair.

Our detailed USD/CAD Elliott Wave analysis offers valuable insights into the current market dynamics...

Read More >
Bitcoin Crypto Price News Elliott Wave Technical Analysis: BTCUSD Forecasting Potential Uptrends, and Trading Strategies

Bitcoin Crypto Price News Elliott Wave Technical Analysis: BTCUSD Forecasting Potential Uptrends, and Trading Strategies

This article provides a comprehensive BTCUSD Elliott Wave analysis, Highlighting Bitcoin's curre...

Read More >
Navigating Stock Market Indices with Elliott Wave Analysis: SP500, NASDAQ 100, RUSSELL 2000, and More

Navigating Stock Market Indices with Elliott Wave Analysis: SP500, NASDAQ 100, RUSSELL 2000, and More

This blog explores the current state of major stock market indices, including the S&P 500, NASDAQ 10...

Read More >
Exploring ASX Trading Success: ASX LIMITED – ASX Stock Analysis & Elliott Wave Technical Forecast

Exploring ASX Trading Success: ASX LIMITED – ASX Stock Analysis & Elliott Wave Technical Forecast

Dive deep into the financial waters of ASX Limited with our detailed analysis. Leveraging Elliott Wa...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on