10Mar
BTCUSD Elliott Wave Technical Analysis March 11 2023
BTCUSD Elliott Wave Technical Analysis March 11 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 II of Motive
Details: Retracement of wave II equal to .618 x Length wave I at 19237.49
Wave Cancel invalid level: 15479
Bitcoin/U.S.dollar(BTCUSD)Trading Strategy: Bitcoin is still in a correction phase. With a fall from the level of 25270 to 19569, we expect a double corrective correction and tend to go down to 19237, which is the wave II retracement level usually equals .618 x wave I. Therefore, Wait for wave II to complete to join the trend again.
Daily
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 II of Motive
Details: Retracement of wave II equal to .618 x Length wave I at 19237.49
Wave Cancel invalid level: 15479
Bitcoin/U.S.dollar(BTCUSD)Trading Strategy: Bitcoin is still in a correction phase. With a fall from the level of 25270 to 19569, we expect a double corrective correction and tend to go down to 19237, which is the wave II retracement level usually equals .618 x wave I. Therefore, Wait for wave II to complete to join the trend again.
Bitcoin/U.S.dollar(BTCUSD)Technical Indicators: The price is below the MA200 indicating a DownTrend. The wave oscillators below Zero-Line momentum are bearish
About the Author
Related
Technical analyst Kittiampon Somboonsod has shared his Elliott Wave charts for Chainlink (LINKUSD) p...
Read More >
According to Kittiampon Somboonsod's Elliott Wave charts, BTCUSD's first corrective wave is ...
Read More >
Overview: Retesting Major TradingLevel TL5|50,000 then lower towards 43 - 42,000 area. Bitcoin Ellio...
Read More >
Elliott Wave charts by Kittiampon Somboonsod 4 Hour - Bitcoin is likely to recover well as price bre...
Read More >
Elliott Wave charts by Kittiampon Somboonsod 4 Hour - The price is likely to trade below 0.069 as th...
Read More >
Overview: ABC as Wave (4) an Intermediate degree Elliott Wave structure down towards 40 - 45k. Bitco...
Read More >
You need to login in order to comment