Bitcoin Elliott Wave technical analysis [Video]
|BTC/USD 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.
Bitcoin/ U.S. dollar (BTCUSD) Trading Strategy: The correction in wave IV seems to be over so we focus on the five-wave rally of wave V and The price action remains in an uptrend, and we are looking for a re-entry into 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.
BTC/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Double Corrective.
Position: Wave ((Y)).
Direction next higher degrees: wave (2).
Details: Wave (2) is likely to end and the price is re-entering the uptrend.
Bitcoin/ U.S. dollar (BTCUSD) Trading Strategy: The correction in wave 2 seems to be over so we focus on the five-wave rally of wave 3I and The price action remains in an uptrend, and we are looking for a re-entry into 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.
Bitcoin Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.