BTCUSD Analysis: Short-Term Correction & Trading Opportunity
BTCUSD Wave Analysis: Navigating the 4th Wave Correction
In the 4-hour chart, BTCUSD has completed its 3rd wave in the larger Elliott Wave structure and is currently in the 4th wave. Delving deeper, the 5 waves within the 3rd wave have concluded, indicating a corrective phase.
Current Wave Analysis:
A Wave: BTCUSD is now in the A wave of the 4th wave correction. This downward correction is expected to find support around the $64,000 level.
B Wave: After hitting $64,000, a corrective upward move is anticipated, targeting approximately $65,900.
C Wave: Following the B wave, BTCUSD is expected to decline further, reaching levels between $63,000 and $62,500.
Short-Term Trading Opportunities:
In the 4-hour chart, BTCUSD has completed its 3rd wave in the larger Elliott Wave structure and is currently in the 4th wave. Delving deeper, the 5 waves within the 3rd wave have concluded, indicating a corrective phase.
Current Wave Analysis:
A Wave: BTCUSD is now in the A wave of the 4th wave correction. This downward correction is expected to find support around the $64,000 level.
B Wave: After hitting $64,000, a corrective upward move is anticipated, targeting approximately $65,900.
C Wave: Following the B wave, BTCUSD is expected to decline further, reaching levels between $63,000 and $62,500.
Short-Term Trading Opportunities:
- Sell BTCUSD: Initiate a short position targeting $63,000.
- Buy BTCUSD: Around the $63,000 level, look for buying opportunities with a target of $68,000 or higher.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.