Bitcoin/USD (BTCUSD) Elliott Wave Analysis - Daily Chart Analysis
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: --
Details:
The five-wave rise in Wave V is anticipated to be equivalent to Wave (I).
Bitcoin/USD (BTCUSD) Trading Strategy
Wave (3) appears to have concluded, and the price is now entering a correction phase as Wave (4) develops. Traders should wait for the correction to complete before rejoining the upward trend.
Bitcoin/USD (BTCUSD) Technical Indicators
- The price remains above the 200 Moving Average (MA200), signaling a prevailing uptrend.
- The Wave Oscillator reflects Bullish Momentum.
Bitcoin/USD (BTCUSD) Elliott Wave Analysis - 4-Hour Chart Analysis
BTCUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave (4)
Direction Next Higher Degrees: Wave ((3))
Wave Cancel Invalid Level: --
Details:
A retracement phase is underway in Wave (4) before the price resumes its upward movement in Wave (5).
Bitcoin/USD (BTCUSD) Trading Strategy
Wave (3) appears to have ended, and the price is currently retracing in Wave (4). Traders are advised to wait for the correction to conclude before entering positions to align with the trend continuation.
Bitcoin/USD (BTCUSD) Technical Indicators
- The price holds above the 200 Moving Average (MA200), affirming the bullish uptrend.
- The Wave Oscillator signals Bullish Momentum.
Technical Analyst: Kittiampon Somboonsod
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