Jump to content

Bitcoin / U.S.dollar(BTCUSD) Elliott Wave Technical Analysis, 13 January 23


Recommended Posts

Elliott Wave Analysis TradingLounge Daily Chart, 13 January 23, 

Bitcoin / U.S.dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: wave ((3)) of Motive

Details: The gain of wave ((3)) is usually 1.618 x the length of wave ((1)).

Wave Cancel invalid level: 16293

Bitcoin / U.S. dollar (BTCUSD) Trading Strategy: Bitcoin is likely to recover well as the price managed to break through the MA50, but even so, the price is still below the MA200. The price may be at the beginning of the rally. Causing there is still a chance to be pressured by sales pressure Trading during this period must be done carefully.

Bitcoin / U.S. dollar (BTCUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. the Wave Oscillator above Zero-Line momentum is Bullish.

TradingLounge Analyst: Kittiampon Somboonsod

 

1480818309_BTCDay.thumb.png.e4feeea3607fde1d69f5b67edc8035dd.png

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 13 January 23,  

Bitcoin / U.S.dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 4

Direction Next higher Degrees: wave 4 of Motive

Details: Wave 4 usually retraces 32.8% of wave 3.

Wave Cancel invalid level: 16977

Bitcoin / U.S. dollar (BTCUSD) Trading Strategy: Bitcoin on the 4-hour chart has recovered well from the level of 16295 and has also managed to break through the MA200 and MA50, giving the price a chance to turn upward. and could lead to a price target at the level of 17706

Bitcoin / U.S. dollar (BTCUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish.

1865486881_BTCH4.thumb.png.84000287ba8557aef4e16cb5228116a8.png

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • I agree this is the perfect time to dca on many token. I see $Floki as the next top meme considering the armies behind it. Also $BGB, $ORDI, $Doge, $Shib, and ADA are among my top watchlist 
    • That's our hopes & I believe WAGMI cos I did also participate in the pre-trade at Bitget. Just get your Exchange's HMSTR address on your app with the memo then input for on-chain withdrawal.
    • The crypto market is buzzing with activity, and both Bitcoin (BTC) and Ethereum (ETH) are making waves. Let’s break down the latest movements in their prices and what’s driving these changes. Bitcoin Price Update Bitcoin's price surge: BTC is now trading at $60,172, marking a 4.21% jump over the past 24 hours. Intraday performance: Bitcoin hit a low of $57,650.11 and a high of $60,656.72 today. ETF inflows: Bitcoin ETF inflows have risen to $263.07 million as of September 14. This influx of capital seems to be supporting BTC’s price surge. Market dominance: Bitcoin’s dominance increased by 0.37%, now standing at 56.56%. Market cap: Bitcoin's overall market capitalization has hit $1.19 trillion, reinforcing its leading position in the crypto world. Ethereum Price Update Ethereum’s rise: ETH price has climbed nearly 3% in the past 24 hours and is currently priced at $2,422, as per Coinpedia markets Intraday range: The second-largest cryptocurrency saw a low of $2,338.14 and a high of $2,462.80. ETF inflows: Ethereum ETFs have also seen positive inflows, with $1.52 million added as of September 14. Market cap: Ethereum’s total market cap now stands at $292.89 billion. Expert Insights: A Shift in Market Behavior? Crypto analyst ALI has shared some interesting data about the market activity of Bitcoin and Ethereum. According to ALI: Capital exiting BTC and ETH: Around $2.6 billion worth of Bitcoin and Ethereum has exited the market in the past week. This may be due to sluggish price action, suggesting that some investors are shifting to other altcoins. A possible altcoin pump: Despite the recent outflows, the total market cap has rebounded to $2 trillion, leading many to believe that a major pump may be on the horizon—not just for Bitcoin, but for altcoins as well. What’s Next for the Crypto Market? It looks like the crypto market could be gearing up for a strong rally. Both Bitcoin and Ethereum are seeing solid price movements, and with ETF inflows rising, investor confidence appears to be high. If the market continues to stabilize above the $2 trillion mark, we could see even more bullish activity in the coming days.  
×
×
  • Create New...
us