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Elliott Wave Analysis TradingLounge Daily Chart,

Bitcoin/ U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Triangle

position: Wave ((D))

Direction Next higher Degrees: wave (III)

Wave Cancel invalid level: 31046.25

Details: The corrective of Wave IV before increasing again in Wave V

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

Bitcoin is still in an uptrend. This is currently a short-term correction of the fourth wave. In the Triangle pattern, we are missing one more decline in wave E before another increase in the fifth wave. So wait for the correction to complete to rejoin the trend.

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

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source: Tradinglounge.com

Elliott Wave Analysis TradingLounge 4H Chart,

Bitcoin/ U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Triangle

position: Wave ((D))

Direction Next higher Degrees: wave (III)

Wave Cancel invalid level: 31046.25

Details: The corrective of Wave IV before increasing again in Wave V

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

Bitcoin is still in an uptrend. This is currently a short-term correction of the fourth wave. In the Triangle pattern, we are missing one more decline in wave E before another increase in the fifth wave. So wait for the correction to complete to rejoin the trend.

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

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