BTCUSD Elliott Wave Analysis TradingLounge Daily Chart

Bitcoin/ U.S. Dollar Currency Pair Analysis

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave V

Direction Next Higher Degrees: Wave (III)

Wave Cancel Invalid Level:

Details: The price is likely to increase above the level of 73,660.

Bitcoin/ U.S. Dollar (BTCUSD) Trading Strategy:

A five-wave increase in the Impulse pattern, with the fourth wave appearing to be complete. The price rose again during the fifth wave, leading to an overall increase above the level of 73,660.

Bitcoin/ U.S. Dollar (BTCUSD) Technical Indicators:

  • The price is below the MA200, indicating an uptrend.
  • The Wave Oscillator shows bullish momentum.

BTCUSD-1D-Crypto-Cha...


BTCUSD Elliott Wave Analysis TradingLounge H4 Chart

Bitcoin/ U.S. Dollar (BTCUSD) Chart Analysis

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave V

Direction Next Higher Degrees: Wave (III)

Wave Cancel Invalid Level:

Details: The price is likely to increase above the level of 73,660.

Bitcoin/ U.S. Dollar (BTCUSD) Trading Strategy:

A five-wave increase in the Impulse pattern, with the fourth wave appearing to be complete. The price rose again during the fifth wave, leading to an overall increase above the level of 73,660.

Bitcoin/ U.S. Dollar (BTCUSD) Technical Indicators:

  • The price is below the MA200, indicating an uptrend.
  • The Wave Oscillator shows bullish momentum.

Technical Analyst:  Kittiampon Somboonsod

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

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BTCUSD-4h-Crypto-Cha...

Conclusion:

Our BTCUSD Elliott Wave analysis indicates that Bitcoin is positioned for a potential increase in price, supported by a complete fourth wave and bullish momentum indicated by the Wave Oscillator. Traders should consider this analysis for informed decision-making, as the price trend suggests an uptrend above 73,660. Staying updated with Elliott Wave patterns and technical indicators can provide significant advantages in cryptocurrency trading.

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