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

Actionable Trading Strategies and Stock Price Forecasts for Meta Platforms Inc Using  META Stocks Elliott Wave Technical Analysis

Actionable Trading Strategies and Stock Price Forecasts for Meta Platforms Inc Using META Stocks Elliott Wave Technical Analysis

This article provides a comprehensive Elliott Wave analysis of Meta Platforms Inc. (META), offering ...

Read More >
Explore the ASX Trading Success: REECE LIMITED – REH Stock Analysis & Elliott Wave Technical Forecast

Explore the ASX Trading Success: REECE LIMITED – REH Stock Analysis & Elliott Wave Technical Forecast

Explore the potential future movements of Reece Limited (REH) on the ASX through detailed Elliott Wa...

Read More >
Euro/British Pound Forex Currency Pair: Offering Valuable Strategies for EURGBP Elliott Wave Technical Analysis

Euro/British Pound Forex Currency Pair: Offering Valuable Strategies for EURGBP Elliott Wave Technical Analysis

Explore our comprehensive guide on Elliott Wave Analysis for the EURGBP currency pair. This article ...

Read More >
British Pound/ Australian Dollar(GBPAUD) Trading - Forex Analysis & Elliott Wave Technical Forecast

British Pound/ Australian Dollar(GBPAUD) Trading - Forex Analysis & Elliott Wave Technical Forecast

This detailed article provides an in-depth GBPAUD Elliott Wave Analysis, offering traders critical i...

Read More >
AAVE/ U.S. dollar(AAVEUSD) Elliott Wave Technical Analysis : Unlocking Profitable AAVE/USD Trading Strategies

AAVE/ U.S. dollar(AAVEUSD) Elliott Wave Technical Analysis : Unlocking Profitable AAVE/USD Trading Strategies

Dive deep into the world of AAVE/USD trading with our expert Elliott Wave Analysis. This guide provi...

Read More >
Showcasing Bullish Trend Insights and Forecast - U.S. Dollar / Japanese Yen (USDJPY) Forex Elliott Wave Technical Analysis

Showcasing Bullish Trend Insights and Forecast - U.S. Dollar / Japanese Yen (USDJPY) Forex Elliott Wave Technical Analysis

This article provides an in-depth USDJPY Elliott Wave analysis, showcasing bullish trends and key 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