Elliott Wave Technical Analysis: Bitcoin /U.S. Dollar, Wednesday, Feb. 15

Elliott Wave Analysis TradingLounge Daily Chart, February 15, 2023

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Bitcoin /U.S. Dollar (BITCOMP)

Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave ((5))

Direction Next higher Degrees: wave I of Motive

Details: Wave ((5)) equals wave ((1)) at 24400

Wave Cancel invalid level: 18475

Bitcoin /U.S. Dollar (BTCUSD) Trading Strategy: Bitcoin has recovered from the same MA200 level reversing wave 4, making the price more likely to rise in wave 5 that could lead to the 24349 level.

Bitcoin /U.S. Dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an UpTrend. The wave oscillators Below Zero-Line momentum are bearish.

TradingLounge Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, February 15, 2023

Bitcoin /U.S. Dollar (BTCUSD)

Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave ((5))

Direction Next higher Degrees: wave I of Motive

Details: Wave ((5)) equals wave ((1)) at 24400

Wave Cancel invalid level: 18475

Bitcoin /U.S. Dollar (BTCUSD) Trading Strategy: Bitcoin has recovered from the same MA200 level reversing wave 4, making the price more likely to rise in wave 5 that could lead to the 24349 level.

Bitcoin /U.S. Dollar (BTCUSD) Technical Indicators: The price is above the MA200 indicating an UpTrend. The wave oscillators above Zero-Line momentum are bullish.


More By This Author:

Elliott Wave Technical Analysis: Cisco Systems Inc.
Elliott Wave Technical Analysis: Dogecoin / U.S. Dollar
Elliott Wave Technical Analysis: Shopify, Monday, Feb. 13

Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...

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