Elliott Wave Analysis TradingLounge

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 V

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:

Wave (3) appears to have ended and the price is now entering a correction phase in wave (4), 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, The Wave Oscillator is a Bullish Momentum.

Bitcoin/ U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

position: Wave (4)

Direction Next higher Degrees: wave ((3))

Wave Cancel invalid level:

Details: Retracement of wave 4 before rising again in wave 5.

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

Wave (3) appears to have ended and price is now entering a correction phase in wave (4), 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, The Wave Oscillator is a Bullish Momentum.

Technical Analyst: Kittiampon Somboonsod

More By This Author:

Elliott Wave Insights: Tech Giants And Major Indices Enter Key Correction Waves
Unlocking ASX Trading Success - BHP Group Limited
Elliott Wave Technical Analysis: McDonald’s Corp. - Friday, Dec. 6