Elliott Wave Technical Analysis: Bitcoin/USD Crypto Price News
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Elliott Wave Analysis TradingLounge Daily Chart
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 (III)
Wave Cancel invalid level: 31046.25
Details: Wave IV may be complete and the Price increase again in Wave V
Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:
Overall, Bitcoin is still in an uptrend, but it is currently in a correction phase of the fourth wave, which appears to be complete. Therefore, it is an opportunity to rejoin the trend. Look for opportunities to open long positions.
Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators:
The price is above the MA200, indicating an uptrend. The Wave Oscillator shows bullish momentum.
Elliott Wave Analysis TradingLounge H4 Chart
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 (2)
Wave Cancel invalid level: 59835.83
Details: Wave (2) is equal to 61.8% of Wave (1) at 61903.07
Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:
Overall, Bitcoin is still in an uptrend, but it is currently in a correction phase of the fourth wave, which appears to be complete. Therefore, it is an opportunity to rejoin the trend. Look for opportunities to open long positions.
Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators:
The price is above the MA200, indicating an uptrend. The Wave Oscillator shows bullish momentum.
Technical Analyst: Kittiampon Somboonsod
Source: Tradinglounge.com
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