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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 rise of wave V is likely equivalent to wave I.

Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:
Bitcoin remains in an uptrend, with an impulsive rally. We are now in the fifth wave, which is incomplete. So the price is likely to continue to rise. Look for a rebound from 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 4hr 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 ((3))

Wave Cancel invalid level:

Details: The five-wave rise of wave (3).

Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:
Bitcoin remains in an uptrend, with an impulsive rally. We are now in the fifth wave, which is incomplete. So the price is likely to continue to rise. Look for a rebound from 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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