BTC/USD Elliott Wave technical analysis
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
position: Wave ((3)).
Direction next higher degrees: Wave V.
Details: The five-wave rise of wave V is likely equivalent to wave (I).
Bitcoin/ US 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/ US 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: Flat.
Position: Wave B.
Direction next higher degrees: Wave (4).
Details: The corrective wave in Wave (4) before increase again in Wave (5).
Bitcoin/US Dollar (BTC/USD) 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/ US 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]
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