Elliott Wave Analysis TradingLounge Daily Chart.
Bitcoin/ U.S. dollar(BTCUSD)
BTC/USD Elliott Wave technical analysis
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave V.
Direction next higher degrees: Wave (III).
Wave cancel invalid level: 31046.25.
Details: Wave IV may be complete and the Price increase again in Wave V.
Bitcoin/ U.S. dollar (BTC/USD) trading strategy: Overall, Bitcoin is still in an uptrend. But it is a period of correction in the fourth wave. which appears to be complete. Therefore, it is an opportunity for us to join the trend once again. Look for opportunities to open long positions..
Bitcoin/ U.S. dollar (BTC/USD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.
BTC/USD Elliott Wave technical analysis four-hour chart
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave V.
Direction next higher degrees: Wave (III).
Wave cancel invalid level: 31046.25.
Details: Wave IV may be complete and the Price increase again in Wave V.
Bitcoin/ U.S. dollar (BTC/USD) trading strategy: Overall, Bitcoin is still in an uptrend. But it is a period of correction in the fourth wave. which appears to be complete. Therefore, it is an opportunity for us to join the trend once again. Look for opportunities to open long positions..
Bitcoin/ U.S. dollar (BTC/USD) technical indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.
Bitcoin Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended Content
Editors’ Picks
XRP drops to $0.40 as Ripple and altcoins are hit by marketwide correction
Ripple piled losses alongside top altcoins and Bitcoin early on Friday. The German government’s Bitcoin transfers and Mt.Gox payback to creditors have created uncertainty among traders and increased the pressure on Bitcoin and altcoins like XRP.
Crypto Today: Bitcoin, Ethereum and Ripple lose key support levels, extend declines on Friday
Bitcoin dipped under $54,000 early on Friday as the crypto market suffered a steep correction. Ethereum lost key support at $3,000, erasing gains ahead of the anticipated approval of the Spot Ether ETF.
Bitcoin Cash faces potential 24% crash as Mt. Gox starts repayments
Bitcoin Cash price trades below the weekly support level of $378.6, experiencing a 20% decline this week. Mt.Gox moves over 47,229 BTC worth $2.71 billion, signaling FUD in the market.
Bitcoin faces second largest liquidation event in history, erasing 25% of Base meme coins’ market cap
Bitcoin on-chain data confirms that the current correction represents the second-largest liquidation event in BTC’s history. Base meme coin market capitalization dipped over 25% in the wake of the market-wide decline in crypto prices.
Bitcoin: BTC sinks under $55,000 as Mt Gox prepares payment to creditors
Bitcoin (BTC) price is having its worst week of the year, influenced by selling activity among BTC miners and heavy transfers of Bitcoins to exchanges by Mt Gox and the German Government. Technical indicators hint that BTC may undergo a further 7% decline to retest the $52,000 level.