Elliott Wave Technical Analysis: Bitcoin Crypto Price News For Friday, Dec 13

Image Source: Elliott Wave Analysis TradingLounge Daily ChartBitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: Impulseposition: Wave ((3))Direction Next higher Degrees: wave VWave Cancel invalid level:Details: The five-wave rise of wave V is likely equivalent to wave (I).Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:
Wave (3) appears to have ended and the price is now entering a correction phase in wave (4). 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. The Wave Oscillator is a Bullish Momentum.
 
Elliott Wave Analysis TradingLounge 4hr ChartBitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Flatposition: Wave BDirection Next higher Degrees: wave (4)Wave Cancel invalid level: Details: The corrective wave in Wave (4) before increase again in Wave (5).
Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:
Wave (3) appears to have ended and the price is now entering a correction phase in wave (4). 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. The Wave Oscillator is a Bullish Momentum.
 Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.comMore By This Author: