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Bitcoin/U.S.dollar(BTCUSD) Elliott Wave Technical Analysis 27 January 23


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Elliott Wave Analysis TradingLounge Daily Chart, 27 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 I of Motive

Details: Wave ((3)) may end and the price throwback in wave ((4))

Wave Cancel invalid level: 18475

Bitcoin/U.S.dollar(BTCUSD) Trading Strategy: Bitcoin Remains in a Strong Uptrend The price moves above the MA200 MA50 and the momentum continues to rise. make the overall picture remain positive But still, wave ((3)) seems to have moved towards the price target. Therefore, the price tends to reverse in wave ((4)) before rising again in wave ((5)), watch out for retracement.

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

TradingLounge Analyst: Kittiampon Somboonsod

 

1149554927_BTCDay.thumb.png.96689dc69091b7fbead5c17b963d5385.png

 

Elliott Wave Analysis TradingLounge 4H Chart, 27 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 I of Motive

Details: Wave ((3)) may end and the price throwback in wave ((4))

Wave Cancel invalid level: 18475

Bitcoin/U.S.dollar(BTCUSD) Trading Strategy: Still in a strong uptrend The price moved above the MA200 MA50, but even then it looks like wave ((3)) has moved towards the price target, and wave oscillators are signaling a slowdown. Therefore, the price tends to reverse in wave ((4)) before rising again in wave ((5)), watch out for retracement.

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

626652953_BTCH4.thumb.png.5fceddb8587cdade16aa5ba6efcf1dbf.png

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    • As a meme fan, I have been waiting patiently for the Bull trend that happened to BTC recently to get to all the alts and so we can have what we had back then in 2021 to happen again, but time the strength of the uptrend has not been able to match up with what I am expecting and I do hope that the halving will help, but looking at the hype that is usually expected from the meme community. I don't think I'll be able to wait for the trend to resume and so I am taking more steps ahead of the game, taking up all the opportunities I believe would help the price-trend of my holdings, especially for the DOGE memes and I have found this DOGEDAY event ongoing and it really made a lot of sense to me, because if we look at how the DOGE coins have performed in the past. I believe if we can have a Bitcoin day to celebrate the first cryptocurrency, then we should be able to have a DOGEDAY too looking at the success rate of the meme and the support from the community. For me, this is something special that is worth the energy, vibes and hype and worth participating it. There are different sections to the event, which include the Twitter part, where Bitget is sharing $3,00 to those participating( https://twitter.com/bitgetglobal/status/1780495739984150962Twitter Post ) and the telegram event, and I believe this will favour those that love to bet on the price of coins. They are sharing 100BGB tokens for this and the Discord event has a 90BGB token to be shared.  If we can have Bitcoin's day, then this DOGEDAY should be observed in all the DOGE communities and I will admonish meme lovers to observe events like this because it reflects the nature of memecoin and the hype around it.
    • Would love to grab it below 100!
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