Bitcoin Elliott Wave technical analysis [Video]
![Bitcoin Elliott Wave technical analysis [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Digital Currencies/Bitcoin/Bitcoin_1_XtraLarge.jpg)
Elliott Wave Analysis TradingLounge daily chart.
Bitcoin/ U.S. dollar(BTCUSD)
BTC/USD Elliott Wave technical analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Direction next higher degrees: Wave IV
Details: The decline of wave IV is likely to end and the price is re-entering the uptrend.
Bitcoin/ U.S. dollar (BTC/USD) Trading Strategy: It looks like the wave IV correction is complete and the price is still likely to move up. Look for an opportunity to join the wave V uptrend.
Bitcoin/ U.S. dollar (BTC/USD) Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge four-hour chart.
Bitcoin/ U.S. dollar(BTCUSD)
BTC/USD Elliott Wave technical analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Direction Next higher Degrees: Wave (2)
Details: Wave (2) is likely to end and the price is re-entering the uptrend.
Bitcoin/ U.S. dollar (BTC/USD) Trading Strategy: It looks like the wave (2) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (3) uptrend.
Bitcoin/ U.S. dollar (BTC/USD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum.
Bitcoin Elliott Wave technical analysis [Video]
Author
Peter Mathers
TradingLounge
Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.
