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Bitcoin / U.S. dollar(BTCUSD) Elliott Wave Technical Analysis 13 November 23


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Elliott Wave Analysis TradingLounge Daily Chart, 13 November 23,

Bitcoin / U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave((3))

Direction Next higher Degrees: wave I of Impulse

Wave Cancel invalid level:

Details: Impulse's five-wave rise

Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: Bitcoin has recovered well from the 24915.50 level, with Impulse-style gains leading us to expect a five-wave rally. Currently, the price is moving in Wave 3. We are missing the decline in Wave 4 and rising again in Wave 5 to complete the pattern. Impulse model complete.

Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

 

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Elliott Wave Analysis TradingLounge 4H Chart, 13 November 23,

Bitcoin / U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave((3))

Direction Next higher Degrees: wave I of Impulse

Wave Cancel invalid level:

Details: Wave (3) equal to 423.6% of wave (1) at 37462.32

Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: Bitcoin has recovered well from the 24915.50 level, with Impulse-style gains leading us to expect a five-wave rally. Currently, the price is moving in Wave 3. We are missing the decline in Wave 4 and rising again in Wave 5 to complete the pattern. Impulse model complete.

Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

 

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  • 1 month later...
On 18/11/2023 at 10:46, blazely said:

Why do you think it won't get to 31k? From my chart, all I see is BTC getting there or is there something I am missing. Following the trend, I'd be using Smart Trend to catch up. IMG_20231118_103431.thumb.jpg.1f98456e9e68e4b7b1bfbe20f1fe83a3.jpg

 

I think you're good trader cos the principal is always guaranteed so either ways you are good to go. 

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