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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 ((I))

Wave Cancel invalid level: 

Details: The five-wave Increase of Wave (V)

Bitcoin / U.S. dollar(BTCUSD)Trading Strategy:
Overall, Bitcoin looks like the correction has ended at the 53,534 level and the price is rising again in a wave (V) likely to rise above 72,660, so look for an opportunity to join the uptrend.

Bitcoin / U.S. dollar(BTCUSD)Technical Indicators:
The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a 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 (3)

Direction Next higher Degrees: wave ((I))

Wave Cancel invalid level: 

Details: The five-wave Increase of Wave (3)

Bitcoin / U.S. dollar(BTCUSD)Trading Strategy:
Overall, Bitcoin looks like the correction has ended at the 53,534 level and the price is rising again in a wave (V) likely to rise above 72,660, so look for an opportunity to join the uptrend.

Bitcoin / U.S. dollar(BTCUSD)Technical Indicators:
The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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