Elliott Wave Analysis TradingLounge.
BTC/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Wave ((B)).
Direction next higher degrees: Wave IV.
Wave cancel invalid level:
BTC/USD trading strategy: BTC/USD is currently in a Corrective Wave IV structure that is currently in wave B of IV and may go up before going down. The structure is expected to be a Flat Correction with wave C possibly going down to test the support level of 87,735.
Trading strategies
Buy strategy (long position):
-
Look for opportunities to join short-term uptrends.
-
The uptrend target is 106,000 - 109,000 USD.
Risk management:
- If it drops below 91,000 USD, a new structure must be considered.
BTC/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Wave ((B)).
Direction next higher degrees: Wave IV.
Wave cancel invalid level:
BTC/USD trading strategy: BTC/USD is currently in a Corrective Wave IV structure that is currently in wave B of IV and may go up before going down. The structure is expected to be a Flat Correction with wave C possibly going down to test the support level of 87,735.
Trading strategies
Buy strategy (long position):
-
Look for opportunities to join short-term uptrends.
-
The uptrend target is 106,000 - 109,000 USD.
Risk management:
- If it drops below 91,000 USD, a new structure must be considered.
Bitcoin Elliott Wave technical analysis [Video]
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