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Bitcoin Elliott Wave technical analysis [Video]

Bitcoin Elliott Wave technical analysis [Video]
Peter MathersPeter MathersTradingLounge

BTC/USD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Double Zigzag.

Position: Wave ((Y)).

Direction next higher degrees: wave (III).

Wave cancel invalid level: 31046.25.

Details: The corrective of Wave IV is equal to 38.2% of Wave III at 57663.

BTC/USD trading strategy

After the black III wave continued to rise for a long time, Bitcoin entered a correction period. In the fourth wave, it often went down to test the 38.2% level at 57868 before rising again in the fifth wave. So wait for the correction to complete to re-enter the trend.

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

Bitcoin

BTC/USD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Double Zigzag.

Position: Wave ((Y)).

Direction Next higher Degrees: wave (III).

Wave Cancel invalid level: 31046.25.

Details: The corrective of Wave IV is equal to 38.2% of Wave III at 57663.

BTC/USD trading strategy

After the black III wave continued to rise for a long time, Bitcoin entered a correction period. In the fourth wave, it often went down to test the 38.2% level at 57868 before rising again in the fifth wave. So wait for the correction to complete to re-enter the trend.

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

Bitcoin

Bitcoin Elliott Wave technical analysis [Video]

Author

Peter Mathers

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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