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 is expected to align with the trajectory of Wave I.
Bitcoin/ U.S. Dollar (BTCUSD) Trading Strategy
Bitcoin remains in a sustained uptrend, characterized by an impulsive rally. Currently, the market is progressing through the fifth wave, which remains incomplete. As a result, prices are anticipated to continue climbing. Traders should monitor for rebounds within the ongoing uptrend to capitalize on potential opportunities.
Bitcoin/ U.S. Dollar (BTCUSD) Technical Indicators
- The price remains above the MA200, signaling a continued uptrend.
- The Wave Oscillator suggests bullish momentum, further reinforcing the positive market outlook.
Bitcoin/ U.S. Dollar (BTCUSD) Elliott Wave Analysis - TradingLounge 4-Hour Chart
BTCUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave (3)
Direction Next Higher Degrees: Wave ((3))
Wave Cancel Invalid Level:
Details: The five-wave structure of Wave (3) is unfolding as part of the overall trend.
Bitcoin/ U.S. Dollar (BTCUSD) Trading Strategy
Bitcoin maintains its upward momentum with an ongoing impulsive rally. The fifth wave in this sequence is incomplete, indicating further price increases are likely. Traders are encouraged to seek rebounds within the uptrend to position for potential gains.
Bitcoin/ U.S. Dollar (BTCUSD) Technical Indicators
- The price continues to trade above the MA200, a key indicator of the prevailing uptrend.
- The Wave Oscillator supports a bullish momentum outlook, underscoring the strength of the current trend.
Technical Analyst: Malik Awais
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