Elliott Wave Technical Analysis : Bitcoin Crypto Price News For Wednesday, Sept 11
Image Source: Unsplash
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.
Elliott Wave Analysis TradingLounge H4 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 (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.
Technical Analyst: Kittiampon Somboonsod
Source: Tradinglounge.com
More By This Author:
XAGUSD Commodity Elliott Wave Technical Analysis - Tuesday, September 10
Netflix Inc. Stock Elliott Wave Technical Analysis - Tuesday, September 10
KOSPI Composite Index Elliott Wave Technical Analysis - Tuesday, September 10
Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817
Comments
![](/images/tinyMceCommentImg.png)