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BTCUSD – Elliott Wave Projection

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Free nse BTCUSD chart calls

Free nse BTCUSD chart calls

Timeframe: Daily
BTCUSD has formed a double three pattern on the daily timeframe. The ATR is 3,311, and the ADX stands at 21.29, indicating moderate trend strength. Moving averages are currently acting as resistance to price action.

Wave 1 was completed at 88,772, and the price is now declining in corrective wave (c). A breakout above wave 2 could open trading opportunities for targets at 95,000 – 99,500- 108,541+. However, if the wave (Y) breaks down, it could trigger a sharp decline toward the nearest support, posing a challenge for bulls.

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