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Bitcoin Crypto Price News Today - Elliott Wave Technical Analysis


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Elliott Wave Analysis TradingLounge Daily Chart,

Bitcoin/ U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Triangle

position: Wave ((D))

Direction Next higher Degrees: wave (III)

Wave Cancel invalid level: 31046.25

Details: The corrective of Wave IV before increasing again in Wave V

Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:

Bitcoin is still in an uptrend. This is currently a short-term correction of the fourth wave. In the Triangle pattern, we are missing one more decline in wave E before another increase in the fifth wave. So wait for the correction to complete to rejoin the trend.

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

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source : Tradinglounge.com get trial here!

Crypto24.thumb.png.2b8c3c49cf114f8991881a058b4860e0.png

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart,

Bitcoin/ U.S. dollar(BTCUSD)

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Triangle

position: Wave ((D))

Direction Next higher Degrees: wave (III)

Wave Cancel invalid level: 31046.25

Details: The corrective of Wave IV before increasing again in Wave V

Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:

Bitcoin is still in an uptrend. This is currently a short-term correction of the fourth wave. In the Triangle pattern, we are missing one more decline in wave E before another increase in the fifth wave. So wait for the correction to complete to rejoin the trend.

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

Crypto24(1).thumb.png.f88aa7324bd7a2ba8815c0e1670830ed.png

 

 

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#Bitcoin  does not make new all-time highs in one go.

In the past, each ATH-breakout was preceded by a period of chop, where many people lost faith.

This time, we're seeing the exact same happen again.

Don't get shaken out you can check more on here 👉 

BCE01315-D968-4964-B766-7E71AAF4E469.jpeg

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