Bitcoin crypto price news today Elliott Wave technical analysis [Video]
BTC/USD Elliott Wave technical analysis
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Function: Counter Trend.
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Mode: Corrective.
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Structure: Zigzag.
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Position: Wave C.
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Next higher degree direction: Wave ((II)).
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Wave cancel invalid level: (not specified).
Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy:
Although Bitcoin has shown a recovery over the past week, and some believe the upward trend may resume, Elliott Wave analysis still identifies the movement as corrective, within an a–b–c structure. We are approaching a downward move in wave c, which may result in a more significant drop than currently anticipated.
Wave (V) has concluded → The market is entering an A-B-C corrective pattern.
Wave b is developing into a…
