Bitcoin Elliott Wave technical analysis [Video]
|Elliott Wave analysis trading lounge daily chart.
Bitcoin/ U.S. Dollar (BTCUSD).
BTC/USD Elliott Wave technical analysis
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Function: Counter Trend.
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Mode: Corrective.
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Structure: Flat.
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Position: Wave (C).
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Next higher degree direction: Wave ((4)).
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Wave cancelation level: N/A.
Details:
Bitcoin (BTCUSD) has completed a corrective move from the peak of Wave III, signaling the possibility of a Wave IV reversal. This transition suggests an emerging Wave V, providing potential trading opportunities for those seeking new market targets.
Bitcoin/US Dollar (BTCUSD) Trading strategy.
BTCUSD: Turning point! Is a new uptrend beginning?
BTC is preparing for Wave V, indicating a potential new uptrend. Wave IV has experienced a correction within a structured flat pattern (A)-(B)-(C). The lowest point of Wave IV is at 78,402.68 USD, marking a critical reversal zone. Currently, the price action is forming Waves (1) and (2) of Wave V, signaling the beginning of an upward trend. The Fibonacci target is set at 161.8% (126,549.66 USD).
Strategy:
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Long strategy:
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Buy when the price reaches key support (Pullback Entry)
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If BTC sustains above 90,897.00 USD and moves higher, traders may look for a buying opportunity to ride the Wave V trend.
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Risk management:
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78,402.68 USD – Wave cancelation level:
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If BTCUSD drops below this level, the bullish structure could be invalidated.
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Elliott Wave analysis trading lounge H4 chart.
Bitcoin/ U.S. Dollar (BTCUSD).
BTC/USD Elliott Wave technical analysis
-
Function: Counter Trend.
-
Mode: Corrective.
-
Structure: Flat.
-
Position: Wave (C).
-
Next higher degree direction: Wave ((4)).
-
Wave cancelation level: N/A.
Details:
After Bitcoin (BTCUSD) completed a corrective move from the peak of Wave III, signs of a Wave IV reversal are evident. The possibility of entering Wave V creates a promising opportunity for traders seeking new market targets.
Bitcoin/ U.S. Dollar (BTCUSD) Trading Strategy.
BTCUSD: Turning Point! Is a New Uptrend Beginning?
BTC is preparing to enter Wave V, indicating the start of a new uptrend. Wave IV has moved in a corrective channel, forming a flat structure (A)-(B)-(C). The lowest point of Wave IV stands at 78,402.68 USD, acting as a reversal zone. Currently, the price is shaping Waves (1) and (2) of Wave V, marking the initial phase of an uptrend. The Fibonacci target is set at 161.8% (126,549.66 USD).
Trading Strategies.
Strategy:
-
Long Strategy:
-
Buy when the price reaches key support (Pullback Entry)
-
If BTCUSD maintains above 90,897.00 USD and moves higher, traders may seek a buying opportunity to ride the Wave V trend.
-
Risk Management:
-
78,402.68 USD – Wave Cancelation Level:
-
If BTCUSD drops below this level, the bullish structure may become invalid.
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TradingLounge Analyst: Kittiampon Somboonsod, CEWA
BTC/USD Elliott Wave technical analysis [Video]
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