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Elliott Wave Analysis TradingLounge Daily Chart

Bitcoin/ U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

position: Wave (5)

Direction Next higher Degrees: wave ((3))

Wave Cancel invalid level:

Details: The bullish Wave (5) target is calculated from the Fibonacci Extension (0.618 of Wave 1-3).

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

Correction Wave ends at around 89,396. The internal structure of Wave 5 Sub-Waves is developing. The target of Wave (5) is calculated from Fibonacci Extension (0.618 of Wave 1-3) 123,402.51 Level.

Main Outlook:

* Main Trend: Still bullish with the highest target around 123,402.51.

* Watch for a break of resistance at 108,179.07

Elliott Wave Analysis TradingLounge 4hr Chart

Bitcoin/ U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

position: Wave (5)

Direction Next higher Degrees: wave ((3))

Wave Cancel invalid level:

Details: The uptrend remains strong with the primary target for Wave (5) at 123,402.51 or higher at 125,815.67.

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

Correction Wave ends at around 89,396. The internal structure of Wave 5 Sub-Waves is developing. The target of Wave (5) is calculated from Fibonacci Extension (0.618 of Wave 1-3) 123,402.51 Level.

Main Outlook:

* Main Trend: Still bullish with the highest target around 123,402.51.

* Watch for a break of resistance at 108,179.07

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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