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Bitcoin Elliott Wave technical analysis [Video]

Bitcoin Elliott Wave technical analysis [Video]
Peter MathersPeter MathersTradingLounge

BTC/USD Elliott Wave technical analysis

Function: Follow Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave V.

Direction next higher degrees: wave (I).

Details: The five-wave rise of wave V is likely equivalent to wave I at the 98360 level.

Bitcoin/US Dollar (BTC/USD) trading strategy: The correction in wave 2 seems to be over so we focus on the five-wave rally of wave 3 and The price action remains in an uptrend, and we are looking for a re-entry into 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.

Chart

BTC/USD Elliott Wave technical analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((iv))

Direction next higher degrees: wave 3

Details: Wave IV correction before another rise in wave V.

Bitcoin/ US Dollar (BTC/USD) Trading Strategy: The correction in wave 2 seems to be over so we focus on the five-wave rally of wave 3 and The price action remains in an uptrend, and we are looking for a re-entry into 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

Bitcoin Elliott Wave technical analysis [Video]

Author

Peter Mathers

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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