Elliott Wave Technical Analysis: BTCUSD – Thursday, January 11

Image Source: UnsplashElliott Wave Analysis TradingLounge Daily Chart, 11 January 24,Bitcoin / U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave (III)Direction Next higher Degrees: wave ((I))Wave Cancel invalid level: 31046.25Details: Wave (III) is equal to 161.8% of Wave (I) at 50525.35Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: Bitcoin 1 is still in an uptrend, with a chance to test the level of 50525.35. However, this represents an increase in wave 5, the final wave in a sequence of five waves. This serves as a warning before corrections or trend changes. Be cautious of potential corrections.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, CEWASource : Tradinglounge.comElliott Wave Analysis TradingLounge 4H Chart, 11 January 24,Bitcoin / U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave (III)Direction Next higher Degrees: wave ((I))Wave Cancel invalid level: 31046.25Details: Wave (III) is equal to 161.8% of Wave (I) at 50525.35Bitcoin / U.S. dollar(BTCUSD)Trading Strategy: Bitcoin 1 is still in an uptrend, with a chance to test the level of 50525.35. However, this represents an increase in wave 5, the final wave in a sequence of five waves. This serves as a warning before corrections or trend changes. Be cautious of potential corrections.Bitcoin / U.S. dollar(BTCUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bullish Momentum. More By This Author:Elliott Wave Insights: SP500, Nasdaq, DAX 40, FTSE 100, ASX200
Elliott Wave Technical Analysis: Costco Wholesale Corp. – Wednesday, Jan. 10
Elliott Wave Technical Analysis Day Chart: Euro/U.S. Dollar – Wednesday, Jan. 10