BTCUSD Elliott Wave Technical Analysis March 19 2023
4Hour
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: As we look for the end of the wave ((2)), the price has broken through 26533, making it more likely that the wave ((2)) will finish and the price is developing in the wave ((3)).
Wave Cancel invalid level: 19569
Bitcoin /U.S.dollar(BTCUSD)Trading Strategy: Bitcoin, while we are looking to confirm the end of wave((2)), the price has risen above 26533 and a five-wave rise from 23940 confirms the end of wave((2)), giving the overall a rise. Of the wave((3)), the price tends to continue to rise.
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
Daily
Bitcoin /U.S.dollar(BTCUSD)
BTCUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave III
Direction Next higher Degrees: wave (I) of Motive
Details: Wave 3 is equal to 1.618 multiplied Length of wave 1 at 35366
Wave Cancel invalid level: 15479
Bitcoin /U.S.dollar(BTCUSD)Trading Strategy: Bitcoin is developing in wave III and is trending towards 1.618 times wave I at 35107 as the price recovers from support at MA200 and breaks the upper channel. Help support this idea. So the overall picture is still a steady increase in the uptrend.
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
