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))
Next Higher Degree Direction: Wave IV
Wave Cancel Invalid Level: N/A
Details: The decline in Wave IV seems to be reaching its end, and the BTCUSD price is starting to re-enter the uptrend. This indicates a shift in market sentiment from bearish correction toward a bullish movement.
BTCUSD Trading Strategy: Daily Chart
The wave IV correction appears to have concluded, suggesting that the price will resume moving upward. Traders should consider looking for opportunities to join the wave V uptrend, taking advantage of potential bullish momentum.
Technical Indicators: Daily Chart
BTCUSD Elliott Wave Analysis: TradingLounge 4-Hour 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 Cancel Invalid Level: N/A
Details: The Wave (2) correction seems to be nearing its end, with the price likely to re-enter the uptrend soon. Traders should monitor closely for bullish signals confirming the transition.
BTCUSD Trading Strategy: 4-Hour Chart
Since the Wave (2) correction appears complete, the next move could continue the wave (3) uptrend. This allows traders to position themselves early for potential profits in the bullish phase.
BTCUSD Technical Indicators: 4-Hour Chart
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here See
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