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


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Elliott Wave Analysis TradingLounge Daily Chart, 23 June 23,  

Bitcoin/U.S.dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Double Corrective

Position: Wave(Y)

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

Details: Wave ((2)) is likely to end at the level of 24770.53 A five-wave rise from this point will support this idea.

Wave Cancel invalid level: 24770.53

Bitcoin/U.S.dollar(BTCUSD)Trading Strategy: Bitcoin is likely to end Wave ((2)) at the 24770.53 level, which is enough to reverse Wave((2)) in line with a healthy rebound from the MA200 level, giving us a five-wave movement. to support this idea And it could be the start of a new uptrend.

Bitcoin/U.S.dollar (BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

BTCDay.thumb.png.a70521c91fd5dd649f5f047d0d250e15.png

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 23 June 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 (1) of Motive

Details: Retracement of wave ((4)) usually .382 x Length wave ((3))

Wave Cancel invalid level: 26813.46

Bitcoin/U.S. dollar (BTCUSD)Trading Strategy: Bitcoin is likely to end Wave ((2)) at the level of 24770.53, which is enough to reverse Wave((2)) in line with a retest of the MA200 line. This makes us expect a five-wave movement. to support this idea And it could be the start of a new uptrend.

Bitcoin/U.S.dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum.

BTCH4.thumb.png.dad7dd54ab732899e3ec34e479d679d0.png

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