Elliott Wave Analysis TradingLounge Daily Chart,

Bitcoin / U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

position: Wave ((Y))

Direction Next higher Degrees: wave IV

Wave Cancel invalid level:

Details: the decline in wave IV before increase again in Wave V

Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: It seems that the fourth wave correction is not complete and the price is still likely to drop to test the 48,918 level. Therefore, wait for the correction to complete to look for an opportunity to rejoin the trend in the fifth wave.

Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is blow the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.

Elliott Wave Analysis TradingLounge H4 Chart,

Bitcoin / U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

position: Wave ((Y))

Direction Next higher Degrees: wave IV

Wave Cancel invalid level:

Details: the decline in wave IV before increase again in Wave V

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

It seems that the fourth wave correction is not complete and the price is still likely to drop to test the 48,918 level. Therefore, wait for the correction to complete to look for an opportunity to rejoin the trend in the fifth wave.

Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is blow the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.

Technical Analyst: Kittiampon Somboonsod

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