Elliott Wave Analysis TradingLounge Daily Chart,Bitcoin / 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, so look for opportunities to join the trend from short-term pullbacks.Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge H4 Chart,Bitcoin / U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Flatposition: Wave BDirection Next higher Degrees: wave (2)Wave Cancel invalid level: Details: Wave (2) is likely to retrace the 61.8% level of wave (1).Bitcoin / U.S. dollar(BTCUSD)Trading Strategy:It looks like the Wave IV correction is complete, so look for opportunities to join the trend from short-term pullbacks.Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is below the MA200 indicating a downtrend.The Wave Oscillator is a Bearish Momentum.
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