Elliott Wave Technical Analysis: Bitcoin / U.S. Dollar, Jan. 31
Elliott Wave Analysis TradingLounge Daily Chart, January 31.
Bitcoin / U.S. Dollar (BTCUSD) BTCUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave ((3))
Direction Next higher Degrees: wave I of Motive
Wave Cancel invalid level: 18475
Bitcoin / U.S. Dollar (BTCUSD) Trading Strategy: Bitcoin in the daily chart is likely to correct after passing the 2.618 wave target ((1)) with a chance to retest the MA200 line and the same level as the wave retracement ((4)) if sustained. It is a good signal to start another upward trend in waves ((5)).
Bitcoin / U.S. Dollar (BTCUSD) Technical Indicators: The price is above the MA200, indicating an Uptrend.
The wave oscillators above Zero-Line Bullish momentum.
TradingLounge Analyst: Kittiampon Somboonsod
Elliott Wave Analysis TradingLounge 4H Chart, Jan. 31
Bitcoin / U.S. Dollar (BTCUSD) BTCUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave ((3))
Direction Next higher Degrees: wave I of Motive
Wave Cancel invalid level: 18475
Bitcoin / U.S. Dollar (BTCUSD) Trading Strategy: Bitcoin in the daily chart is likely to correct after passing the 2.618 wave target ((1)) with a chance to retest the MA200 line and the same level as the wave retracement ((4)) if sustained. It is a good signal to start another upward trend in waves ((5)).
Bitcoin / U.S. Dollar (BTCUSD) Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators have Bearish divergence watch out Revers.
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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...
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