Elliott Wave Analysis TradingLounge Daily Chart,

Bitcoin / U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

position: Wave ((Y))

Direction Next higher Degrees: wave IV

Wave Cancel invalid level: 

Details: The decline of wave IV is likely to end and the price is re-entering the uptrend.

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

It looks like the wave IV correction is complete and the price is still likely to move up. Look for an opportunity to join the wave V uptrend.

Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

(Click on image to enlarge)

Elliott Wave Analysis TradingLounge H4 Chart,

Bitcoin / U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

position: Wave B

Direction Next higher Degrees: wave (2)

Wave Cancel invalid level:

Details: Wave (2) is likely to end and the price is re-entering the uptrend.

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

It looks like the wave 2 correction is complete and the price is still likely to move up. Look for an opportunity to join the wave 3 uptrend.

Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

(Click on image to enlarge)

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