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Bitcoin/U.S. dollar(BTCUSD) Elliott Wave Technical Analysis 29 August 23


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Elliott Wave Analysis TradingLounge Daily Chart, 29 August 23, 
Bitcoin/U.S. dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave((C))
Direction Next higher Degrees: wave II of Motive
Wave Cancel invalid level:

Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: A drop below 28639.62 broke the uptrend. causing the correction in wave 2 to not be completed yet Leads to a correction of the wave ((C)) in a flat pattern Therefore, one will have to wait for the pattern to complete to consider joining the trend again.

Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is below  the MA200 indicating a Downtrend, MACD and RSI bearish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA





Elliott Wave Analysis TradingLounge 4H Chart, 29 August 23,  
Bitcoin/U.S. dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure:  ??
Position: Wave (4)
Direction Next higher Degrees: wave (4) of Motive
Wave Cancel invalid level: 

Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: A drop below 28639.62 broke the uptrend. causing the correction in wave 2 to not be completed yet Leads to a correction of the wave ((C)) in a flat pattern Therefore, one will have to wait for the pattern to complete to consider joining the trend again.

Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is below  the MA200 indicating a Downtrend, MACD and RSI bearish momentum.

BTCH4.thumb.png.4433a8d73192578af05b248f75454769.png

BTC Day.png

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