Elliott Wave Analysis TradingLounge.
Bitcoin/ U.S. dollar (BTC/USD).
BTC/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Zigzag.
position: Wave C.
Direction next higher degrees: wave (4).
Details: The Down of Wave C has a trend to test the 87,525 level.
Bitcoin/ U.S. dollar (BTCUSD)Trading Strategy: BTC correction may find support at 87,7525 - 86220 which is the equality of waves A and C and also a test of the Channel. So wait until Wave C is complete to join Uptrend.
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: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction next higher degrees: wave (4)
Details: The Down of Wave C has a trend to test the 87,525 level.
Bitcoin/ U.S. dollar (BTC/USD) Trading Strategy: BTC correction may find support at 87,7525 - 86220 which is the equality of waves A and C and also a test of the Channel. So wait until Wave C is complete to join Uptrend
Bitcoin/ U.S. dollar (BTC/USD) Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish 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
Bitcoin falls below $94,000 as over $568 million outflows from ETFs
Bitcoin continues to edge down, trading below the $94,000 level on Thursday after falling more than 5% this week. Bitcoin US spot ETFs recorded an outflow of over $568 million on Wednesday, showing signs of decreasing demand.
Altcoins Tron and Toncoin Price Prediction: TRX and TON show signs of weakness
Tron and Toncoin prices extend the decline on Thursday after falling more than 6% this week. TRX and TON face rejection from key levels, suggesting double-digit cash ahead. Traders should be cautious as both altcoins show signs of weakness in momentum indicators.
BNB Price Forecast: Poised for a decline on negative Funding Rate
BNB price hovers around $696.40 on Thursday after declining 4.58% in the previous two days. BNB’s momentum indicators hint for a further decline as its Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show bearish signals.
Ripple's XRP eyes recovery following executives' dinner with Donald Trump
Ripple's XRP is up 2% on Wednesday following positive sentiments surrounding its CEO Brad Garlinghouse's recent dinner with incoming US President Donald Trump. If the recent recovery sentiment prevails, XRP could stage a breakout above the upper boundary line of a bullish pennant pattern.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.