Elliott Wave Analysis TradingLounge Daily Chart,
Bitcoin / U.S. dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
position: Wave ((Y))
Direction Next higher Degrees: wave IV
Wave 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 below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
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Elliott Wave Analysis TradingLounge H4 Chart,
Bitcoin / U.S. dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
position: Wave B
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 below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
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