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Elliott Wave Analysis TradingLounge Daily Chart, 19 February 2024.

Bitcoin/U.S. Dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave V

Direction Next higher Degrees: wave (III)

Wave Cancel invalid level: 31046.25

Details: the Five-wave increase in wave (III)

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

Wave II correction appears to be over at the 81.485 level and the price is likely to be bullish again. We are looking at a five-wave increase. to support this idea.

Bitcoin/U.S. Dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillators a bullish Momentum.

Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 19 February 2024.

Bitcoin/U.S. Dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave V

Direction Next higher Degrees: wave (III)

Wave Cancel invalid level: 31046.25

Details: the Five-wave increase in wave V

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

The unfinished rise of Wave (III) continues to extend into Wave V and has a chance to test the 56632.83 level, which is the 200% level of Wave (I).

Bitcoin/U.S. Dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillators a bullish Momentum.

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