TradingLounge Bitcoin Elliott Wave Analysis - Daily Chart
Bitcoin/ U.S. Dollar (BTCUSD) Daily Chart Analysis
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Triangle
Position: Wave ((C))
Direction Next Higher Degrees: Wave IV
Wave Cancel Invalid Level: 56,581
Details: Movement within the Triangle pattern.
Bitcoin/ U.S. Dollar (BTCUSD) Trading Strategy:
Movement within the Triangle pattern of the fourth wave before increasing again in the fifth wave. We are still missing two more moves to complete the pattern, so wait for the correction to complete to rejoin the trend.
Bitcoin/ U.S. Dollar (BTCUSD) Technical Indicators:
- The price is above the MA200, indicating an uptrend.
- The Wave Oscillator shows Bearish Momentum.
Bitcoin/ U.S. Dollar Elliott Wave Analysis - H4 Chart
Bitcoin/ U.S. Dollar (BTCUSD) 4-Hour Chart Analysis
BTCUSD Elliott Wave Analysis
Function: Counter Trend
Mode: Corrective
Structure: Triangle
Position: Wave ((C))
Direction Next Higher Degrees: Wave IV
Wave Cancel Invalid Level: 56,581
Details: Movement within the Triangle pattern.
Bitcoin/ U.S. Dollar (BTCUSD) Trading Strategy:
Movement within the Triangle pattern of the fourth wave before increasing again in the fifth wave. We are still missing two more moves to complete the pattern, so wait for the correction to complete to rejoin the trend.
Bitcoin/ U.S. Dollar (BTCUSD) Technical Indicators:
- The price is below the MA200, indicating a downtrend.
- The Wave Oscillator shows Bearish Momentum.
Technical Analyst: Kittiampon Somboonsod
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