Elliott Wave Analysis TradingLounge.
Bitcoin/ U.S. dollar(BTCUSD).
BTC/USD Elliott Wave technical analysis
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave (3).
Direction next higher degrees: Wave V.
Wave 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 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.
Bitcoin/ U.S. dollar(BTCUSD).
BTC/USD Elliott Wave technical analysis
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: 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 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 Somboonsod.
BTC/USD Elliott Wave technical analysis [Video]
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