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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 V

Direction Next higher Degrees: wave (III)

Wave Cancel invalid level: 31046.25

Details: Wave IV may be complete and the Price increase again in Wave V

Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:
Overall, Bitcoin is still in an uptrend. It is currently in a period of correction in the fourth wave, which appears to be complete. Therefore, it is an opportunity for us to join the trend once again. Look for opportunities to open long positions.

Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators:
The price is above the MA200, indicating an uptrend. The Wave Oscillator shows bullish momentum.

Elliott Wave Analysis TradingLounge H4 Chart

Bitcoin/ U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

position: Wave V

Direction Next higher Degrees: wave (III)

Wave Cancel invalid level: 31046.25

Details: Wave IV may be complete and the Price increase again in Wave V

Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:
Overall, Bitcoin is still in an uptrend. It is currently in a period of correction in the fourth wave, which appears to be complete. Therefore, it is an opportunity for us to join the trend once again. Look for opportunities to open long positions.

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: Tradinglounge.com

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