Image Source: PexelsElliott Wave Analysis TradingLounge Daily ChartBitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double Correctiveposition: Wave ((Y))Direction Next higher Degrees: wave IVWave Cancel invalid level:Details: The decline of wave IV is likely to end and the price is re-entering the uptrend.Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:
It looks like the wave IV correction is complete and the price is still likely to move up. Look for an opportunity to join the wave V uptrend.Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators:
The price is above the MA200 indicating an uptrend. The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge 4hr ChartBitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double Correctiveposition: Wave ((Y))Direction Next higher Degrees: wave (2)Wave Cancel invalid level:Details: Wave (2) is likely to end and the price is re-entering the uptrend.Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:
It looks like the wave (2) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (3) uptrend.Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators:
The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum.
Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.comMore By This Author:Elliott Wave Analysis: Major Indices
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