Wave action (III) in the form of an often extended impulse. It is likely to go up to test the 66410.307 level. In the short term, there may be a correction in Wave IV before rising again. Therefore, Bitcoin overall is still in an uptrend.

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, CEWA

Elliott Wave Analysis TradingLounge 4Hr Chart, 1 March 24,

Bitcoin/U.S. dollar(BTCUSD).

BTC/USD Elliott Wave technical analysis

Function: Follow Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave III.

Direction Next higher Degrees: Wave (III).

Wave Cancel invalid level: 31046.25.

Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy:

Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillators a bullish Momentum.

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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