Elliott Wave Technical Analysis: BTCUSD – Thursday, February 14

Image Source: Elliott Wave Analysis TradingLounge Daily Chart, 14 February 24,Bitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave VDirection Next higher Degrees: wave (III)Wave Cancel invalid level: 31046.25Details: the Five-wave increase in wave (III)Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:Wave II correction appears to be over at the 81.485 level and the price is likely to be bullish again. We are looking at a five-wave increase to support this idea.Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillators a bullish Momentum.TradingLounge Analyst: Kittiampon Somboonsod, CEWASource: Tradinglounge.comElliott Wave Analysis TradingLounge 4Hr Chart, 14 February 24,Bitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave VDirection Next higher Degrees: wave (III)Wave Cancel invalid level: 31046.25Details: the Five-wave increase in wave VBitcoin/ U.S. dollar(BTCUSD)Trading Strategy:The unfinished rise of Wave (III) continues to extend into Wave V and has a chance to test the 56632.83 level, which is the 200% level of Wave (I).Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillators a bullish Momentum. More By This Author: