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.

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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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