BTCUSD Elliott Wave Technical Analysis February 11 2023
4Hour
Bitcoin /U.S.dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave (C)
Direction Next higher Degrees: wave ((4)) of Motive
Details: Retracement of wave ((4)) usually .382 x Length wave ((3)) at 21233.10
Wave Cancel invalid level: 18475
Bitcoin /U.S.dollar(BTCUSD) Trading Strategy: The fourth wave retracement, in Elliott wave structure, before retracement in the fifth wave, Retracement of wave ((4)) usually .382 x Length wave ((3)) at 21233.10, It is at the same level as the MA200 line, giving the price a chance to recover from this level. But even so, we'll have to wait for the fourth wave to finish first.
Bitcoin /U.S.dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating a Down Trend. The wave oscillators above Zero-Line momentum are bearish
Daily
Bitcoin /U.S.dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave (C)
Direction Next higher Degrees: wave ((4)) of Motive
Details: Retracement of wave ((4)) usually .382 x Length wave ((3)) at 21233.10
Wave Cancel invalid level: 18475
Bitcoin /U.S.dollar(BTCUSD)Trading Strategy: The fourth wave retracement, in Elliott wave structure, before retracement in the fifth wave, Retracement of wave ((4)) usually .382 x Length wave ((3)) at 21233.10, It is at the same level as the MA200 line, giving the price a chance to recover from this level. But even so, we'll have to wait for the fourth wave to finish first.
Bitcoin /U.S.dollar(BTCUSD) Technical Indicators: The price is above the MA200 indicating an UpTrend. The wave oscillators above Zero-Line momentum are bullish
