Image Source: Elliott Wave Analysis TradingLounge Daily Chart,Bitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Triangleposition: Wave ((D))Direction Next higher Degrees: wave (III)Wave Cancel invalid level: 31046.25Details: The corrective of Wave IV before increasing again in Wave VBitcoin/ 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, CEWASource: Tradinglounge.comElliott Wave Analysis TradingLounge 4H Chart,Bitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Triangleposition: Wave ((D))Direction Next higher Degrees: wave (III)Wave Cancel invalid level: 31046.25Details: The corrective of Wave IV before increasing again in Wave VBitcoin/ 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. More By This Author:
