15Feb

Deciphering BTCUSD Trends: A Comprehensive Bitcoin/ U.S. Dollar (BTCUSD) Elliott Wave technical Analysis

Bitcoin/ U.S. Dollar (BTCUSD) Elliott Wave Analysis Daily Chart

On February 14, the Elliott Wave Analysis from TradingLounge delved into the technical intricacies of Bitcoin paired with the U.S. dollar (BTCUSD). This analysis focuses on guiding traders through complex market trends using the Elliott Wave Theory.

BTCUSD Elliott Wave Technical Analysis Overview

Function: Following Trends

Mode: Motive

Structure: Impulse

Position: Wave V

Next Higher Degree Direction: Wave (III)

Invalidation Level: 31046.25

BTCUSD Trading Strategy: The analysis suggests that Wave II correction may have concluded around the 81.485 level, signaling a potential bullish trend resurgence. Anticipating a five-wave increase, traders are urged to consider this pattern as a supportive factor in their decision-making process.

Technical Indicators: The price movement remains above the MA200, indicating an uptrend in motion. Additionally, Wave Oscillators signal a bullish momentum, providing further confidence in the upward trajectory of BTCUSD

Technical Analyst: Kittiampon Somboonsod, CEWA

BTCUSD-Day-crypto-ch...

 


 

BTCUSD Elliott Wave Technical Analysis - 4Hr Chart:

Function: Following Trends

Mode: Motive

Structure: Impulse

Position: Wave V

Next Higher Degree Direction: Wave (III)

Invalidation Level: 31046.25

Details: The analysis underscores an ongoing rise in Wave (III), extending into Wave V. There's potential for testing the 56632.83 level, representing the 200% level of Wave (I). Traders are advised to monitor this development closely for potential opportunities.

Technical Indicators: Similar to the daily chart analysis, technical indicators on the 4-hour chart support the bullish sentiment. The price remains above the MA200, reaffirming the uptrend, while Wave Oscillators further bolster the bullish momentum.

Technical Analyst: Kittiampon Somboonsod, CEWA

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

See Previous: AAVE/ U.S. dollar(AAVEUSD)

BTCUSD-4h-crypto-cha...

 

In Conclusion: The BTCUSD Elliott Wave Technical Analysis for February 14 provides valuable insights into market trends and potential trading strategies. With a focus on Elliott Wave Theory and technical indicators, traders are equipped to make informed decisions amidst the dynamic cryptocurrency landscape. Stay tuned for further updates and analysis from TradingLounge to navigate the BTCUSD market effectively.

Related

Offering a Complete AAVE/USD Trading Insights: AAVEUSD Elliott Wave Technical Analysis and Current Market Trends

Offering a Complete AAVE/USD Trading Insights: AAVEUSD Elliott Wave Technical Analysis and Current Market Trends

This article provides a comprehensive Elliott Wave analysis of AAVEUSD, covering current market tren...

Read More >
S&P 500, NASDAQ 100, BITCOIN, DAX 40, FTSE 100, ASX 200: Technical Analysis

S&P 500, NASDAQ 100, BITCOIN, DAX 40, FTSE 100, ASX 200: Technical Analysis

Bitcoin testing ATH, While the SP500 is completing an Elliott Wave 4 Triangle pattern. With US Stock...

Read More >
Wheat Price Analysis: Wheat Commodity Elliott Wave Forecast, Current Market Trends, and Trading Strategies

Wheat Price Analysis: Wheat Commodity Elliott Wave Forecast, Current Market Trends, and Trading Strategies

Get an in-depth wheat price analysis with Elliott Wave forecasting. Understand the current market tr...

Read More >
VeChain (VET) Elliott Wave Analysis: Crypto Trading Strategy, Market Trends, Support & Resistance Levels for VET/USD

VeChain (VET) Elliott Wave Analysis: Crypto Trading Strategy, Market Trends, Support & Resistance Levels for VET/USD

VeChain (VET) Elliott Wave forecast, covering key price levels, trading strategies, and market trend...

Read More >
Offering Traders Valuable Guidance on AVY's Market Trajectory: Avery Dennison Corp. Stocks Elliott Wave Technical Analysis

Offering Traders Valuable Guidance on AVY's Market Trajectory: Avery Dennison Corp. Stocks Elliott Wave Technical Analysis

This article provides a comprehensive Elliott Wave analysis of Avery Dennison Corp. (AVY). It covers...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on