Elliott Wave Analysis TradingLounge Daily Chart, Thursday, Aug. 31 

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Bitcoin/U.S. Dollar (BITCOMP) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave((C)) Direction Next higher Degrees: wave II of Motive Wave Cancel invalid level: 28635.53 Details: We are still missing one more decline for Wave C to complete, so wait for Wave C to complete to rejoin the trend.

Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy: The price structure in the downtrend continues. Also, the price is below the MA200. The retracement is only short term in wave 4 to further decline in wave 5.

Bitcoin/U.S. Dollar (BTCUSD) Technical Indicators: The price is below the MA200 indicating a Downtrend, MACD and RSI Bullish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA 

Elliott Wave Analysis TradingLounge 4H Chart, Thursday, Aug. 31

Bitcoin/U.S. Dollar (BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave((C)) Direction Next higher Degrees: wave II of Motive Wave Cancel invalid level: 28635.53 Details: We are still missing one more decline for Wave C to complete, so wait for Wave C to complete to rejoin the trend.

Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy: The price structure in the downtrend continues. Also, the price is below the MA200. The retracement is only short term in wave 4 to further decline in wave 5.

Bitcoin/U.S. Dollar (BTCUSD) Technical Indicators: The price is below the MA200 indicating a Downtrend, MACD and RSI bearish momentum.

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