01Jul

BTCUSD Elliott Wave Technical Analysis July 01 2023

Crypto_Splash-BTC

BTCUSD Elliott Wave Technical Analysis July 01 2023

4Hour

Bitcoin/U.S.dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Direction Next higher Degrees: wave (2) of Motive
Details: Wave (2) is likely to end at the level of 29452.19 A five-wave rise from this point will support this idea.
Wave Cancel invalid level: 24770.53


Bitcoin/U.S.dollar(BTCUSD)Trading Strategy: Bitcoin continues to trend higher. With the price above the MA200 line and the price structure still in the Impulse Wave pattern in wave ((3)), the overall Bitcoin trend is in a strong uptrend.


Bitcoin/U.S.dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend MACD and RSI are  bullish momentum


Daily

Bitcoin/U.S.dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave ((3))
Direction Next higher Degrees: wave III  of Motive
Details: Wave 3 is usually equal to 1.618 multiplied Length of wave 1
Wave Cancel invalid level: 24770.53


Bitcoin/U.S.dollar(BTCUSD)Trading Strategy: Bitcoin continues to trend higher. With the price above the MA200 line and the price structure still in the Impulse Wave pattern in wave ((3)), the overall Bitcoin trend is in a strong uptrend.


Bitcoin/U.S.dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend MACD and RSI are  bullish momentum

 

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