Bitcoin/U.S. Dollar (BTCUSD) Elliott Wave Analysis - TradingLounge Daily Chart
BTCUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave V
Direction Next Higher Degrees: Wave (I)
Wave Cancel Invalid Level:
Details:
The five-wave rise of Wave V appears to align closely with Wave I, targeting the 98,360 level.
Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy
The correction in Wave 2 seems complete, shifting focus to the five-wave rally of Wave 3. The price action continues to show an uptrend, creating an opportunity to re-enter the bullish trend.
Bitcoin/U.S. Dollar (BTCUSD) Technical Indicators
- The price remains above the MA200, signaling an uptrend.
- The Wave Oscillator indicates strong bullish momentum.
Bitcoin/U.S. Dollar (BTCUSD)Elliott Wave Analysis - TradingLounge 4H Chart
BTCUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave ((iv))
Direction Next Higher Degrees: Wave 3
Wave Cancel Invalid Level:
Details:
Wave IV correction is underway, anticipating another rise to complete Wave V.
Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy
The correction in Wave 2 appears finished, redirecting attention to the five-wave rally of Wave 3. The price action stays in an uptrend, signaling an entry point to align with the prevailing trend.
Bitcoin/U.S. Dollar (BTCUSD) Technical Indicators
- The price remains above the MA200, confirming the uptrend.
- The Wave Oscillator reflects strong bullish momentum.
Technical Analyst: Malik Awais
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