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


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Elliott Wave Analysis TradingLounge Daily Chart, 31 May 23,  

Bitcoin/U.S.dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Zigzag

Position: Wave(C)

Direction Next higher Degrees: wave ((2)) of Motive

Details: Wave ((2)) is likely to end at the level of 25874.30. A five-wave rise will confirm this idea.

Wave Cancel invalid level: 25874.30

Bitcoin/U.S. dollar (BTCUSD)Trading Strategy: Bitcoin has recovered well from the 25874.30 level and can still hold above the MA200 line, leading us to expect Wave 2 to end at 25874.30, the price is returning to an upward trend, and a five-wave rise will support this idea.

Bitcoin/U.S.dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend MACD and RSI are bullish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source : Tradinglounge.com get trial here!

BTCDay.thumb.png.f5bc41f7be9675cbb8e8ec028dab46ea.png

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 31 May 23,  

Bitcoin/U.S.dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 5

Direction Next higher Degrees: wave (C) of Zigzag

Details: Wave (C) is likely to end at the level of 25874.30. A five-wave rise will confirm this idea.

Wave Cancel invalid level: 25874.30

Bitcoin/U.S. dollar (BTCUSD)Trading Strategy: Bitcoin has recovered well from the 25874.30 level and can still hold above the MA200 line, leading us to expect Wave 2 to end at 25874.30, the price is returning to an upward trend, and a five-wave rise will support this idea.

Bitcoin/U.S.dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend MACD and RSI are bullish momentum.

BTCH4.thumb.png.068fd0cabed697b15d4e8e3ab17e80e8.png

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