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
A cryptocurrency technical analysis of Uniswap (UNIUSD) using Elliott Wave charts by Kittiampon Somb...
Read More >
Elliott Wave charts by Kittiampon Somboonsod 4 Hour decrease in wave Y but must not fall below 879...
Read More >
Ethereum (ETH) is predicted to continue its upward trend with a chance to reach the 161.8 level of w...
Read More >
Technical analyst Kittiampon Somboonsod has shared an Elliott Wave chart for Ripple (XRPUSD) on both...
Read More >
BTC Elliott Wave analysis suggests that the wave ((2)) may have ended at 25830.60 and breaking the l...
Read More >
Overview: Cryptos are correcting, but it is a bullish correction and buying opportunities. Trading L...
Read More >
You need to login in order to comment