13Dec

Bitcoin Elliott Wave Analysis: BTCUSD Price Prediction, Wave 4 Correction Insights, Trading Strategies, Bullish Momentum, and Crypto Market Trends

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 ((3))

Direction Next Higher Degrees: Wave V

Wave Cancel Invalid Level: N/A

Details: The five-wave rise of Wave V is likely equivalent to Wave (I).

Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy
Wave (3) appears to have concluded, and the price is entering a corrective phase in Wave (4). Traders are advised to wait for the correction to complete before rejoining the trend.

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

  • The price is trading above the MA200, confirming an uptrend.
  • The Wave Oscillator signals strong bullish momentum.

BTCUSD-1d-crypto-cha...


Bitcoin/U.S. Dollar (BTCUSD) Elliott Wave Analysis - TradingLounge 4-Hour Chart

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave B

Direction Next Higher Degrees: Wave (4)

Wave Cancel Invalid Level: N/A

Details: A corrective wave within Wave (4) is forming, likely to precede an increase in Wave (5).

Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy
Wave (3) appears to have concluded, and the price is entering a corrective phase in Wave (4). Traders should wait for the correction to finalize before re-entering the trend.

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

  • The price is above the MA200, signaling an ongoing uptrend.
  • The Wave Oscillator indicates bullish momentum persists.

Technical Analyst: Kittiampon Somboonsod

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

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