Elliott wave analysis Trading Lounge daily chart,
Bitcoin/US dollar (BTCUSD).
BTCUSD Elliott Wave Technical Analysis
function: counter trend.
mode: Fixed.
structure: triangle.
position: Wave ((D)).
Direction Next highest degree: Wave (III).
Wave cancellation invalidation level: 31046.25.
detail: Adjustment in wave IV before rising again in wave V.
Bitcoin/USD (BTCUSD) trading strategy:
Bitcoin is still on an upward trend. We are currently in the 4th wave of short-term adjustment. In the triangle pattern, we miss another drop in wave E before a further rise in wave 5. Therefore, wait until the correction is complete to return to the trend.
Bitcoin/USD (BTCUSD) Technical Indicators: Price is above MA200, indicating an uptrend, and the wave oscillator has bullish momentum.
TradingLounge Analyst: Kitianpong Somboonsod, CEWA.
Elliott Wave Analysis TradingLounge 4H Chart,
Bitcoin/US dollar (BTCUSD).
BTC/USD Elliott Wave Technical Analysis
function: counter trend.
mode: Fixed.
structure: triangle.
position: Wave ((D)).
Direction Next highest degree: Wave (III).
Wave cancellation invalidation level: 31046.25.
detail: Adjustment in wave IV before rising again in wave V.
Bitcoin/USD (BTCUSD) trading strategy:
Bitcoin is still on an upward trend. We are currently in the 4th wave of short-term adjustment. In the triangle pattern, we miss another drop in wave E before a further rise in wave 5. Therefore, wait until the correction is complete to return to the trend.
Bitcoin/USD (BTCUSD) Technical Indicators: Price is above MA200, indicating an uptrend, and the wave oscillator has bullish momentum.