BTCUSD Elliott Wave Technical Analysis 23 November 2022
4 Hour
Bitcoin(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave ((5))
Direction Next higher Degrees: Wave C of Zigzag
Details: Wave 5 may end at level 15479 and the price is rising again in an uptrend.
Wave Cancel invalid level:
Bitcoin(BTCUSD) Trading Strategy: Bitcoin price continues to be under heavy selling pressure, below the MA200 MA50, indicating a strong downtrend. The wave oscillator is below the zero line with decreasing momentum. but even so, The bullish divergence is showing signs of reversal, so overall Bitcoin price is likely to reverse again. And the price is expected to trade above 21437, but not reverse below 15479.
Bitcoin(BTCUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The Wave oscillator has a Bullish divergence Price maybe reversal
Daily
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 under heavy selling pressure, below the MA200 MA50, indicating a strong downtrend. The wave oscillator is below the zero line with decreasing momentum. but even so, The bullish divergence is showing signs of reversal, so overall Bitcoin price is likely to reverse again. And the price is expected to trade above 21437, but not reverse below 15479.
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
