Elliott Wave Technical Analysis: BTCUSD - Wednesday, September 27
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Elliott Wave Analysis TradingLounge Daily Chart, 27 September 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: 28167.47 Details: Wave ((C)) trend move to 138.2% of Wave ((A)) at 23214.83 Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: Bitcoin overview is still in a downtrend, as the price is below MA200 and wave C is not complete The price has a trend move to 23214.83 which is a 138.2% level of wave A. Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is abelow the MA200 indicating a downtrend, RSI is a Bearish momentum. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : Tradinglounge.com
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Elliott Wave Analysis TradingLounge 4H Chart, 27 September 23, Bitcoin/U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triangle Position: Wave 4 Direction Next higher Degrees: wave ((C)) of Flat Wave Cancel invalid level: 28167.47 Details: we are still missing two moves for a triangle to be complete Bitcoin/U.S. dollar(BTCUSD) Trading Strategy: The retest is at MA200 and the price make is a higher low, indicate that the Buyer is weak, so we looking for turning down below 24612 Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, RSI is a Bullish momentum.
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