Image Source: Unsplash

Elliott Wave Analysis TradingLounge Daily Chart, 13 October 23
Bitcoin/U.S. dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave((C))
Direction Next higher Degrees: wave (B) or (II) 
Wave Cancel invalid level: 15473
Details: the five-wave decline of wave C

Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: Bitcoin is still in a downtrend. The price structure has a continuous decline of Wave C and the price tends to trade below 24916, where we will focus on the five declines of Wave C.

Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, RSI is a Bearish Momentum

TradingLounge Analyst: Kittiampon Somboonsod, CEWA
Source : Tradinglounge.com

Elliott Wave Analysis TradingLounge 4H Chart, 13 October 23
Bitcoin/U.S. dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave((C))
Direction Next higher Degrees: wave (B) or (II) 
Wave Cancel invalid level: 15473
Details: the five-wave decline of wave C

Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: Bitcoin is still in a downtrend. The price structure has a continuous decline of Wave C and the price tends to trade below 24916, where we will focus on the five declines of Wave C.

Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, RSI is a Bearish Momentum.

More By This Author:

Elliott Wave Technical Analysis: Fortinet Inc. - Thursday, Oct. 12
Elliott Wave Technical Analysis Day Chart: Australian Dollar/Japanese Yen - Thursday, Oct. 12
Elliott Wave Technical: DOGEUSD - Thursday October 12