Image Source: PexelsElliott Wave Analysis TradingLounge Daily ChartBitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: Impulseposition: Wave (3)Direction Next higher Degrees: wave VWave Cancel invalid level: Details: The five-wave rise of wave V is likely equivalent to wave (I).
Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:
Wave (3) appears to have ended and the price is now entering a correction phase in wave (4). 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. The Wave Oscillator is a Bullish Momentum.
Elliott Wave Analysis TradingLounge 4hr ChartBitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: Impulseposition: Wave (4)Direction Next higher Degrees: wave ((3))Wave Cancel invalid level: Details: Retracement of wave 4 before rising again in wave 5.
Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:
Wave (3) appears to have ended and the price is now entering a correction phase in wave (4). 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. The Wave Oscillator is a Bullish Momentum.
Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.comMore By This Author:Fed Rate Cut Triggers Elliott Wave Primary Wave 4: S&P 500, NDX, DAX, FTSE & ASX Outlook
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