Image Source: PexelsElliott Wave Analysis TradingLounge Daily Chart, 21 November 23,Bitcoin / U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave((3))Direction Next higher Degrees: wave I of ImpulseWave Cancel invalid level:Details: Impulse’s five-wave riseBitcoin / U.S. dollar(BTCUSD)Trading Strategy: Bitcoin recovered well from the 24915.50 level with an impulse rally, leading us to expect a 5-wave rally. The price is currently moving in Wave 4 before rising again in Wave 5 to complete the pattern. Impulse complete.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, CEWASource : Tradinglounge.comElliott Wave Analysis TradingLounge 4H Chart, 21 November 23,Bitcoin / U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave((3))Direction Next higher Degrees: wave I of ImpulseWave Cancel invalid level:Details: Wave 3 may have ended and prices are entering. Correction in Wave 4Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: Bitcoin recovered well from the 24915.50 level with an impulse rally, leading us to expect a 5-wave rally. The price is currently moving in Wave 4 before rising again in Wave 5 to complete the pattern. Impulse complete.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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