#Elliottwave #BTCUSD #Bitcoin Daily Chart
Bitcoin(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave ((5))
Direction Next higher Degrees: Sub-wave of Wave C
Details: The decline of wave 5 at the end of a downtrend, upon its completion, the price reverses to an uptrend again.
Wave Cancel invalid level:
Bitcoin(BTCUSD) Trading Strategy: Bitcoin price continues to be heavily pressured by selling pressure. The price is below the MA200 MA50 indicating a clear downtrend. The wave oscillator is below the zero line with downward momentum. But even then, there are starting to show signs of reversal in Bullish divergence, so overall Bitcoin price is likely to reverse up again and the price is likely to trade above the 21437 level.
Bitcoin(BTCUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The Wave oscillator is below the Zero-Line is a bearish momentum
BTCUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave ((5))
Direction Next higher Degrees: Sub-wave of Wave C
Details: The decline of wave 5 at the end of a downtrend, upon its completion, the price reverses to an uptrend again.
Wave Cancel invalid level:
Bitcoin(BTCUSD) Trading Strategy: Bitcoin price continues to be heavily pressured by selling pressure. The price is below the MA200 MA50 indicating a clear downtrend. The wave oscillator is below the zero line with downward momentum. But even then, there are starting to show signs of reversal in Bullish divergence, so overall Bitcoin price is likely to reverse up again and the price is likely to trade above the 21437 level.
Bitcoin(BTCUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The Wave oscillator is below the Zero-Line is a bearish momentum
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