Bitcoin Elliott Wave technical analysis [Video]

Elliott Wave Analysis TradingLounge

Bitcoin/ U.S. dollar(BTCUSD)

BTC/USD Elliott Wave technical analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave (5)

Direction next higher degrees: Wave ((3))

Details: The bullish Wave (5) target is calculated from the Fibonacci Extension (0.618 of Wave 1-3).

Bitcoin/ U.S. dollar (BTCUSD) Trading Strategy: Correction Wave ends at around 89,396. The internal structure of Wave 5 Sub-Waves is developing. The target of Wave (5) is calculated from Fibonacci Extension (0.618 of Wave 1-3) 123,402.51Level.

Main outlook

• Main Trend: Still bullish with the highest target around 123,402.51.

• Watch for a break of resistance at 108,179.07.

BTC/USD Elliott Wave technical analysis

Function: Follow Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave (5).

Direction next higher degrees: wave ((3)).

Details: The uptrend remains strong with the primary target for Wave (5) at 123,402.51 or higher at 125,815.67.

Bitcoin/ US Dollar (BTCUSD) Trading Strategy: Correction Wave ends at around 89,396. The internal structure of Wave 5 Sub-Waves is developing. The target of Wave (5) is calculated from Fibonacci Extension (0.618 of Wave 1-3) 123,402.51Level.

Main outlook

• Main Trend: Still bullish with the highest target around 123,402.51.

• Watch for a break of resistance at 108,179.07.

Bitcoin Elliott Wave technical analysis [Video]