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Bitcoin/U.S. dollar(BTCUSD) Elliott Wave Technical Analysis 5 September 23


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Elliott Wave Analysis TradingLounge Daily Chart, 5 September 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: 

Details: Five-wave extension of wave C is likely to be below 25361.73.

Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: The price structure in the downtrend continues. Also, the price is below the MA200. But even so Wave 5 is the last wave in a Motive wave pattern warning before changing the trend, So wait a wave 5 complete to find trade setup.

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

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

BTCDay.thumb.png.8bec85df98d6e9a0c90b40a58fc90e31.png

 

Elliott Wave Analysis TradingLounge 4H Chart, 5 September 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: Five-wave extension of wave C is likely to be below 25361.73.

Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: The price structure in the downtrend continues. Also, the price is below the MA200. But even so Wave 5 is the last wave in a Motive wave pattern warning before changing the trend, So wait a wave 5 complete to find trade setup.

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

BTCH4.thumb.png.8790164c3eed7aa6e72d30f6ff0c8913.png

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