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


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Elliott Wave Analysis TradingLounge Daily Chart, 31 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: 28635.53
Details: We are still missing one more decline for Wave C to complete, so wait for Wave C to complete to rejoin the trend.

Bitcoin/U.S. dollar(BTCUSD) Trading Strategy: The price structure in the downtrend continues. Also, the price is below the MA200. The retracement is only short term in wave 4 to further decline in wave 5.

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

TradingLounge Analyst: Kittiampon Somboonsod, CEWA





Elliott Wave Analysis TradingLounge 4H Chart, 31 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: 28635.53
Details: We are still missing one more decline for Wave C to complete, so wait for Wave C to complete to rejoin the trend.

Bitcoin/U.S. dollar(BTCUSD) Trading Strategy: The price structure in the downtrend continues. Also, the price is below the MA200. The retracement is only short term in wave 4 to further decline in wave 5.

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

BTCH4.thumb.png.3ebab3256d07095276a3f29ec62dd2e0.png

BTC Day.png

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