Elliott Wave Analysis TradingLounge Daily Chart, 17 January 24,

Bitcoin / U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave A

Direction Next higher Degrees: wave (IV)

Wave Cancel invalid level: 31046.25

Details: Wave (IV) is equal to 38.2% of Wave III at 39804.05

Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: Bitcoin overall is still in an uptrend. Currently, the price is pulling back short-term in wave (IV) to continue rising again in wave (V), waiting for the correction of wave (IV) to complete to join the trend again, with wave (IV) having a reverse level. At 38.2% of wave (III) @39779.35

Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source: Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge 4H Chart, 17 January 24,

Bitcoin / U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave A

Direction Next higher Degrees: wave (IV)

Wave Cancel invalid level: 31046.25

Details: Wave (IV) is equal to 38.2% of Wave III at 39804.05

Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: Bitcoin overall is still in an uptrend. Currently, the price is pulling back short-term in wave (IV) to continue rising again in wave (V), waiting for the correction of wave (IV) to complete to join the trend again, with wave (IV) having a reverse level. At 38.2% of wave (III) @39779.35

Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bullish Momentum.