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Bitcoin Elliott Wave technical analysis [Video]

BTCUSD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Double Corrective.

Position: Wave ((Y)).

Direction next higher degrees: wave IV.

Details: The decline of wave IV is likely to end and the price is re-entering the uptrend.

BTC/USD 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 below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

BTC/USD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Flat.

Position: Wave B.

Direction next higher degrees: wave (2).

Details: Wave (2) is likely to end and the price is re-entering the uptrend.

BTC/USD 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 below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

Bitcoin Elliott Wave technical analysis [Video]

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