Elliott Wave Analysis TradingLounge Daily Chart, 13 November 23,Bitcoin / U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave((3))Direction Next higher Degrees: wave I of ImpulseWave Cancel invalid level:Details: Impulse’s five-wave riseBitcoin / 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. Elliott Wave Analysis TradingLounge 4H Chart, 13 November 23,Bitcoin / U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave((3))Direction Next higher Degrees: wave I of ImpulseWave Cancel invalid level:Details: Wave (3) equal to 423.6% of wave (1) at 37462.32Bitcoin / 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.
More By This Author:
Bitcoin / U.S. Dollar(BTCUSD) Elliott Wave Technical Analysis
