BTCUSD Elliott Wave Analysis TradingLounge Daily Chart

Bitcoin / U.S. dollar (BTCUSD) Daily Chart Analysis

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave (V)

Direction Next Higher Degrees: Wave ((I))

Wave Cancel Invalid Level: N/A

Details: The five-wave increase of Wave (V)

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

Overall, Bitcoin appears to have ended its correction at the 53,534 level. The price is now rising again in a wave (V), likely to surpass 72,660. This presents an opportunity to join the uptrend.

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

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

BTCUSD Elliott Wave Analysis TradingLounge H4 Chart

Bitcoin / U.S. dollar (BTCUSD) 4-Hour Chart Analysis

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave (3)

Direction Next Higher Degrees: Wave ((I))

Wave Cancel Invalid Level: N/A

Details: The five-wave increase of Wave (3)

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

Overall, Bitcoin appears to have ended its correction at the 53,534 level. The price is now rising again in a wave (V), likely to surpass 72,660. This presents an opportunity to join the uptrend.

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

• The price is above 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 

See Previous: (VETUSD) Elliott Wave Technical Analysis

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