BTCUSD Elliott Wave Analysis – TradingLounge Day Chart
Bitcoin/U.S. Dollar (BTCUSD) Day Chart Analysis
BTCUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave (3)
Direction Next Higher Degree: Wave V
Wave Cancel Invalid Level:
Details: The five-wave rise of Wave V is likely equivalent to Wave (I).
Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy:
Wave (3) seems to have concluded, with the price now transitioning into a correction phase in Wave (4). Traders are advised to wait for this correction phase to finalize before re-entering the trend.
BTCUSD Elliott Wave Analysis – TradingLounge 4-Hour Chart
Bitcoin/U.S. Dollar (BTCUSD) 4-Hour Chart Analysis
BTCUSD Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave (4)
Direction Next Higher Degree: Wave ((3))
Wave Cancel Invalid Level:
Details: Retracement of Wave (4) is anticipated before another upward movement in Wave (5).
Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy:
Wave (3) appears to have completed, and the price is now entering a corrective phase in Wave (4). Traders should monitor the correction and prepare to align with the trend once it resumes.
Bitcoin/U.S. Dollar (BTCUSD) Technical Indicators:
- The price is trading above the MA200, suggesting a sustained uptrend.
- The Wave Oscillator indicates bullish momentum, reinforcing the uptrend narrative.
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
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