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
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
Technical Analyst: Kittiampon Somboonsod
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