Elliott Wave Analysis TradingLounge Daily Chart, Monday, Aug. 29 

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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:

Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy: A drop below 28639.62 broke the uptrend, causing the correction in wave 2 to not be completed, yet. Leads to a correction of the wave ((C)) in a flat pattern. Therefore, one will have to wait for the pattern to complete to consider joining the trend again.

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

TradingLounge Analyst: Kittiampon Somboonsod, CEWA 

Elliott Wave Analysis TradingLounge 4H Chart, Monday, Aug. 29

Bitcoin/U.S. Dollar (BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: ?? Position: Wave (4) Direction Next higher Degrees: wave (4) of Motive Wave Cancel invalid level.

Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy: A drop below 28639.62 broke the uptrend, causing the correction in wave 2 to not be completed, yet. Leads to a correction of the wave ((C)) in a flat pattern. Therefore, one will have to wait for the pattern to complete to consider joining the trend again.

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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