BTCUSD Elliott Wave Analysis TradingLounge Day Chart

Bitcoin/ U.S. Dollar (BTCUSD) Day Chart

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave V

Direction (Next Higher Degree): Wave (I)

Wave Cancel Invalid Level: Not Specified

Details: The five-wave progression of Wave V appears to align with Wave I, targeting the 98,360 level.

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

• The correction in Wave 2 seems completed.
• Focus is on the five-wave rally of Wave 3.
• Price action remains in an uptrend, signaling potential re-entry opportunities into the trend.

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

• MA200: The price is above the 200-day moving average, confirming an uptrend.

• Wave Oscillator: Indicates strong bullish momentum.

Bitcoin/ U.S. Dollar (BTCUSD) 4-Hour Chart

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave (3)

Direction (Next Higher Degree): Wave ((3))

Wave Cancel Invalid Level: Not Specified

Details:
Wave (3) is progressing in a five-wave impulse structure, indicating a continuation of the upward trend.

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

• The correction in Wave 2 appears complete.

• Attention is on the five-wave rally in Wave 3, supporting the ongoing uptrend.
• Look for strategic opportunities to re-enter the trend.

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

• MA200: The price is above the 200-day moving average, signaling a bullish trend.

• Wave Oscillator: Reflects strong bullish momentum.

Technical Analyst: Malik Awais

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

Previous: AAVEUSD 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