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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: Double Zigzag

Position: Wave ((Y))

Direction Next higher Degrees: wave (III)

Wave Cancel invalid level: 31046.25

Details: The corrective of Wave IV is equal to 38.2% of Wave III at 57663

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

After the black III wave continued to rise for a long time, Bitcoin entered a correction period. In the fourth wave, it often went down to test the 38.2% level at 57868 before rising again in the fifth wave. So wait for the correction to complete to re-enter the trend.

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

Elliott Wave Analysis TradingLounge 4Hr Chart,

Bitcoin/ U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Zigzag

Position: Wave ((Y))

Direction Next higher Degrees: wave (III)

Wave Cancel invalid level: 31046.25

Details: The corrective of Wave IV is equal to 38.2% of Wave III at 57663

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

After the black III wave continued to rise for a long time, Bitcoin entered a correction period. In the fourth wave, it often went down to test the 38.2% level at 57868 before rising again in the fifth wave. So wait for the correction to complete to re-enter the trend.

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

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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