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:

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

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

Overall, Bitcoin appears to have completed its correction at the 53,534 level. The price is rising again in Wave (V), likely to exceed 72,660. Look for opportunities 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 ((1))

Direction Next Higher Degrees: Wave (V)

Wave Cancel Invalid Level:

Details: The five-wave increase of Wave ((1))

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

Overall, Bitcoin appears to have completed its correction at the 53,534 level. The price is rising again in Wave (V), likely to exceed 72,660. Look for opportunities 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: Dogecoin/ U.S. dollar (DOGEUSD) Elliott Wave Technical Analysis

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