Elliott Wave Analysis TradingLounge Daily Chart, 21 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 recovered well from the 24915.50 level with an impulse rally, leading us to expect a 5-wave rally. The price is currently moving in Wave 4 before rising again in Wave 5 to complete the pattern. Impulse 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
Source: Tradinglounge.com get trial here!
Elliott Wave Analysis TradingLounge 4H Chart, 21 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 may have ended and prices are entering. Correction in Wave 4
Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: Bitcoin recovered well from the 24915.50 level with an impulse rally, leading us to expect a 5-wave rally. The price is currently moving in Wave 4 before rising again in Wave 5 to complete the pattern. Impulse complete.
Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.
