![Bitcoin Elliott Wave technical analysis [Video]](https://www.europesays.com/wp-content/uploads/2024/10/Bitcoin_1_Large.jpg)
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Direction next higher degrees: Wave IV
Details: The decline of wave IV is likely to end and the price is re-entering the uptrend.
Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: The correction in wave IV) seems to be over so we focus on the five-wave rally of wave V and The price action remains in an uptrend, and we are looking for a re-entry into the trend.
Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum.
BTC/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Double Corrective.
Position: Wave ((Y)).
Direction next higher degrees: Wave (2).
Details: Wave (2) is likely to end and the price is re-entering the uptrend.
Bitcoin/ U.S. dollar (BTCUSD) Trading Strategy: The correction in wave ((2)) seems to be over so we focus on the five-wave rally of wave 3 and The price action remains in an uptrend, and we are looking for a re-entry into the trend.
Bitcoin/ U.S. dollar (BTCUSD) Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum.
Bitcoin Elliott Wave technical analysis [Video]