Elliott Wave Analysis TradingLounge Daily Chart,
Bitcoin/ U.S. dollar(BTCUSD).
BTC/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Triangle.
Position: Wave ((D)).
Direction Next higher Degrees: Wave (III).
Wave Cancel invalid level: 31046.25.
Details: The corrective of Wave IV before increasing again in Wave V.
Bitcoin/U.S. dollar(BTCUSD)Trading Strategy:
Bitcoin is still in an uptrend. This is currently a short-term correction of the fourth wave. In the Triangle pattern, we are missing one more decline in wave E before another increase in the fifth wave. So wait for the correction to complete to rejoin the trend.
Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.
TradingLounge Analyst: Kittiampon Somboonsod, CEWA.
Elliott Wave Analysis TradingLounge 4H Chart,
Bitcoin/ U.S. dollar(BTCUSD).
BTC/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Triangle.
Position: Wave ((D)).
Direction Next higher Degrees: Wave (III).
Wave Cancel invalid level: 31046.25.
Details: The corrective of Wave IV before increasing again in Wave V.
Bitcoin/U.S. dollar(BTCUSD)Trading Strategy:
Bitcoin is still in an uptrend. This is currently a short-term correction of the fourth wave. In the Triangle pattern, we are missing one more decline in wave E before another increase in the fifth wave. So wait for the correction to complete to rejoin the trend.
Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.
