Elliott Wave Technical Analysis: BTCUSD – Wednesday, February 21

Image Source: Elliott Wave Analysis TradingLounge Daily Chart, 21 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:The increase in wave (III) precedes the correction in wave ((IV)) and is at the end of the increase, so watch out for a correction that will occur soon.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, CEWATechnical Analyst: Kittiampon SomboonsodSource: Tradinglounge.comElliott Wave Analysis TradingLounge 4Hr Chart, 21 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 increase in wave (III) precedes the correction in wave ((IV)) and is at the end of the increase, so watch out for a correction that will occur soon.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: