Bitcoin / U.S.dollar(BTCUSD) Elliott Wave Technical Analysis 31 January 23

[tradinglounge]

Elliott Wave Analysis TradingLounge Daily Chart, 31 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

Wave Cancel invalid level: 18475

Bitcoin / U.S.dollar(BTCUSD) Trading Strategy: Bitcoin in the daily chart is likely to correct after passing the 2.618 wave target ((1)) with a chance to retest the MA200 line and the same level as the wave retracement ((4)) if sustained. It is a good signal to start another upward trend in waves ((5)).

Bitcoin / U.S.dollar(BTCUSD) Technical Indicators: The price is above the MA200, indicating an Uptrend.

The wave oscillators above Zero-Line Bullish momentum.

TradingLounge Analyst: Kittiampon Somboonsod

 

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 31 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

Wave Cancel invalid level: 18475

Bitcoin / U.S.dollar(BTCUSD) Trading Strategy: Bitcoin in the daily chart is likely to correct after passing the 2.618 wave target ((1)) with a chance to retest the MA200 line and the same level as the wave retracement ((4)) if sustained. It is a good signal to start another upward trend in waves ((5)).

Bitcoin / U.S.dollar(BTCUSD) Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators have Bearish divergence watch out Revers.

 

[ottodickmann]

I think, that BTC will be 25K$ at the end of the winter. Though, some traders ask nowadays, is Bitcoin dead. In any case BTC has a great future.