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 Invalid Level:

Details: The current decline within wave IV appears close to completion, suggesting BTCUSD may soon re-enter its uptrend.

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

With the wave IV correction potentially complete, attention turns to the five-wave rally of wave V. The prevailing price action indicates an uptrend, making this a favorable re-entry point into the trend.

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

  • Moving Average (MA200): Price remains above MA200, signaling a strong uptrend.

  • Wave Oscillator: Demonstrates bullish momentum.

BTCUSD-1D-Crypto-Cha...


BTCUSD Elliott Wave Analysis – 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 Invalid Level:

Details: The correction within wave (2) seems to conclude, indicating BTCUSD may soon resume its uptrend.

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

The corrective phase in wave ((2)) is likely ending, shifting focus to the five-wave rally of wave 3. Current price action confirms an uptrend, presenting a re-entry opportunity into the bullish trend.

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

  • Moving Average (MA200): Price holds above MA200, confirming an upward trend.

  • Wave Oscillator: Displays bullish momentum, reinforcing positive price action.

Technical Analyst:  Kittiampon Somboonsod

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

Previous: Uniswap/ U.S. dollar (UNIUSD) 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

Alphabet Inc. (GOOGL) Elliott Wave Analysis: Stock Forecast, Price Trends, and Investment Strategies for Better Trading Decisions

Alphabet Inc. (GOOGL) Elliott Wave Analysis: Stock Forecast, Price Trends, and Investment Strategies for Better Trading Decisions

Elliott Wave analysis of Alphabet Inc. (GOOGL), highlighting stock forecasts, potential resistance l...

Read More >
Powerful S&P/ASX 200 Index Elliott Wave Technical Analysis: Uncover Strong Bullish Market Trends and Forecasts

Powerful S&P/ASX 200 Index Elliott Wave Technical Analysis: Uncover Strong Bullish Market Trends and Forecasts

The S&P/ASX 200 continues in a strong bullish trend with both orange wave 3 and navy blue wave 3 act...

Read More >
Texas Instruments Inc. Stocks Analysis and Price Movements: TXN Elliott Wave Technical Analysis

Texas Instruments Inc. Stocks Analysis and Price Movements: TXN Elliott Wave Technical Analysis

Explore our in-depth Elliott Wave analysis of Texas Instruments Inc. (TXN). This analysis covers TXN...

Read More >
British Pound/Australian Dollar Forex Currency Pair, Highlighting the Potential Future Movements GBPAUD Elliott Wave Technical Analysis

British Pound/Australian Dollar Forex Currency Pair, Highlighting the Potential Future Movements GBPAUD Elliott Wave Technical Analysis

This article provides a comprehensive Elliott Wave analysis of the GBPAUD currency pair, highlightin...

Read More >
XRP Ripple Elliott Wave Analysis:  Market Trends, Support & Resistance Levels, and Technical Forecast for XRPUSD

XRP Ripple Elliott Wave Analysis: Market Trends, Support & Resistance Levels, and Technical Forecast for XRPUSD

XRP Elliott Wave analysis, highlighting the current XRPUSD price movement, key support and resistanc...

Read More >
Elliott Wave Technical Analysis of ASX: Origin Energy Limited (ORG) – Stock Trends, and Trading Strategies for Informed Decisions

Elliott Wave Technical Analysis of ASX: Origin Energy Limited (ORG) – Stock Trends, and Trading Strategies for Informed Decisions

Elliott Wave analysis of ASX: Origin Energy Limited (ORG) highlights stock trends, trading strategie...

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