BTCUSD Elliott Wave 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))
Direction Next Higher Degree: Wave IV
Wave Cancel Invalid Level:
Details: The decline of Wave IV appears to be concluding, with the price likely to re-enter its uptrend.
Bitcoin/ U.S. Dollar (BTCUSD) Trading Strategy:
It seems that the Wave IV correction has come to an end, and the price is expected to resume its upward movement. Look for opportunities to join the Wave V uptrend.
Bitcoin/ U.S. Dollar (BTCUSD) Technical Indicators:
- The price is trading above the MA200, signaling a continuation of the uptrend.
- The Wave Oscillator currently shows bearish momentum.
Bitcoin/ U.S. Dollar (BTCUSD) TradingLounge 4-Hour Chart
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Direction Next Higher Degree: Wave (2)
Wave Cancel Invalid Level:
Details: Wave (2) is expected to complete, signaling a potential re-entry into the uptrend.
Bitcoin/ U.S. Dollar (BTCUSD) Trading Strategy:
Wave (2) correction appears to be ending, and the price is likely to resume its upward trend. Look for an opportunity to join the Wave (3) uptrend.
Bitcoin/ U.S. Dollar (BTCUSD) Technical Indicators:
- The price is above the MA200, confirming an uptrend.
- The Wave Oscillator is indicating bearish momentum.
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here See
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