Bitcoin Elliott Wave technical analysis [Video]

Elliott Wave Analysis TradingLounge daily chart,

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: 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 above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum.

Elliott Wave Analysis TradingLounge four-hour chart.

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: 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 above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum.

Bitcoin Elliott Wave technical analysis [Video]