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Elliott Wave Analysis TradingLounge Daily Chart, 17 October 23, 
Bitcoin/U.S. dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave((B))
Direction Next higher Degrees: wave (B) or (II) 
Wave Cancel invalid level: 15473
Details: the increase of wave B before decline in wave C

Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: Although we are seeing a good recovery for Bitcoin from the 26541 level, the price structure is a bullish rally. The three waves moving within the channel are corrective, giving us a bearish view on Bitcoin.

Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

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


Elliott Wave Analysis TradingLounge 4H Chart, 17 October 23,  
Bitcoin/U.S. dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave((B))
Direction Next higher Degrees: wave (B) or (II) 
Wave Cancel invalid level: 15473
Details: the increase of wave B before decline in wave C

Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: Although we are seeing a good recovery for Bitcoin from the 26541 level, the price structure is a bullish rally. The three waves moving within the channel are corrective, giving us a bearish view on Bitcoin.

Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

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