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 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
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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.