Elliott Wave Analysis TradingLounge Daily Chart, 3 October 23,
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 II of Motive
Wave Cancel invalid level: 28635
Details: Wave ((C)) trend move to 138.2% of Wave ((A)) at 23214.83

Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: The violent increase from Level 26026 destroyed the Triangle Formation, but even so, the W.C.Invalid Level was not destroyed. We are still looking for a wave 5 decline.

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

(Click on image to enlarge)

Elliott Wave Analysis TradingLounge 4H Chart, 3 October 23, 
Bitcoin/U.S. dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave 4
Direction Next higher Degrees: wave ((C)) of Flat
Wave Cancel invalid level: 28635
Details:  the increase in wave 4 before decline in wave 5

Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: The violent increase from Level 26026 destroyed the Triangle Formation, but even so, the W.C.Invalid Level was not destroyed. We are still looking for a wave 5 decline.

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

(Click on image to enlarge)

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