Elliott Wave Analysis TradingLounge Daily Chart, May 1

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Bitcoin /U.S. Dollar (BITCOMP)
BTCUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Zigzag
Position: Wave(B)
Direction Next higher Degrees: wave ((2)) of Motive
Details: There is still a risk of further decline from wave C correction.
Wave Cancel invalid level: 19559.36

Bitcoin /U.S. Dollar (BTCUSD) Trading Strategy: There is further downside risk from wave C correction and this is in line with the Bearish Divergence signal, which keeps the overall picture in a short-term downtrend. Wait for the correction to complete to join the trend again.

Bitcoin /U.S. Dollar (BTCUSD) Technical Indicators: The price is above the MA200 indicating an Uptrend MACD and RSI has Bearish Divergence Price trend reversal.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 1 May 23, 
Bitcoin /U.S. Dollar (BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Zigzag
Position: Wave(B)
Direction Next higher Degrees: wave ((2)) of Motive
Details: There is still a risk of further decline from wave C correction.
Wave Cancel invalid level: 19559.36

 Bitcoin /U.S. Dollar (BTCUSD) Trading Strategy: There is further downside risk from wave C correction and this is in line with the Bearish Divergence signal, which keeps the overall picture in a short-term downtrend. Wait for the correction to complete to join the trend again.

Bitcoin /U.S. Dollar (BTCUSD) Technical Indicators: The price is above the MA200 indicating an Uptrend  MACD and RSI has Momentum Bullish.

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