Bitcoin(BTCUSD) Elliott Wave Technical Analysis 9 November 2022

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Elliott Wave Analysis TradingLounge Daily Chart, 9 November 2022,

Bitcoin(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function:Follow trend

Mode:Motive

Structure:Impulse

Position: Wave ((5))

Direction Next higher Degrees: Sub-wave of Wave C

Details: decrease again in wave 5 but must not fall below 13880.

Wave Cancel invalid level:13880.

Bitcoin(BTCUSD) Trading Strategy:The price is still in control of the bear market. But it'sthe last stage in the fifth wave, which is likely to reverse soon. Look for an opportunity toopen a long position, but the price must not fall below 13880.

Bitcoin(BTCUSD) Technical Indicators:MACD has a bullish divergence price have theopportunity to reverse, MACD Histogram below Zero-Line the price has bearish momentum

TradingLounge Analyst: Kittiampon Somboonsod

 

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 9 November 2022,

Bitcoin(BTCUSD)

BTCUSDElliott Wave Technical Analysis

Function:Follow trend

Mode:Motive

Structure:Impulse

Position: Wave ((5))

Direction Next higher Degrees: Sub-wave of Wave C

Details: decrease again in wave 5 but must not fall below 13880.

Wave Cancel invalid level:13880.

Bitcoin(BTCUSD) Trading Strategy:The price is still in control of the bear market. But it'sthe last stage in the fifth wave, which is likely to reverse soon. Look for an opportunity toopen a long position, but the price must not fall below 13880.

Bitcoin(BTCUSD)Technical Indicators:MACD and MACD Histogram below Zero-Line theprice has bearish momentum.