Elliott Wave Analysis TradingLounge Daily Chart, 29 January 24,
Bitcoin / U.S. dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave B
Direction Next higher Degrees: wave (IV)
Wave Cancel invalid level: 31046.25
Details: Pull-back of Wave B black before decline again in Wave C Black
Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: The wave (IV) correction in the Zigzag pattern is currently pulling back in wave B before falling again in wave C, so wait for the correction to complete to rejoin the trend in wave (V).
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, Learn From the Experts Join TradingLounge Here
Previous: VETUSD
Elliott Wave Analysis TradingLounge 4HR Chart, 29 January 24,
Bitcoin / U.S. dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave B
Direction Next higher Degrees: wave (IV)
Wave Cancel invalid level: 31046.25
Details: Wave B Black trend to retest key resistance at 44500 level
Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: The wave (IV) correction in the Zigzag pattern is currently pulling back in wave B before falling again in wave C, so wait for the correction to complete to rejoin the trend in wave (V).
Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, Wave Oscillators a bullish Momentum.
