I threw in the towel, I'll think like Elliott!
-In a previous analysis (see here) I showed that the cryptocurrency is inside a large descending bullish wedge and that its destination is likely to be the second “third” of the huge triangle, in the region of 11K.
-Considering that the world lives from economics cycles, nothing fairer than thinking that cryptos also go through this process.
-Therefore, I would like to say that we are experiencing leg 5 of ELLIOTT's theory of waves, where, after wave 5, we can have the waves of ABC corrections further ahead and surf considerable highs.
-Remember, ELLIOTT's theory says the following about price behavior: “Emotion, Impulse and Subjectivity” where;
a) Emotion: the emotions of buyers and sellers directly interfere with the values, and we can see a large volume and transcribe the price emotions in graphs and with that we can even establish the real price of an asset and thus make the best decision;
b) Impulse: Is when investors simply follow the flow (currently falling) reflected directly in impulse, not using their decisions in technical or fundamental analysis of what the market is showing, this impulse effect is better known as “ herd effect”.
c) Subjectivity: It is the sum of the emotion and impulse principles described above, therefore, human psychology has direct interference in the oscillations that occur in the market, and through this understanding, Elliot Waves serve to explain what led to the evolution or fall of price of an asset.
-As relevant as understanding the principles, is understanding the patterns of this theory.
-Elliott's theory patterns are divided as follows: "five trend waves" (currently falling) and three correction waves currently experienced, so we have; “12345 of trend and ABC of trend correction”.
-Treating and using ELLIOTT's theory requires time and study, above, I have described only the important points, which should be detailed for better applicability in our daily lives.
-ELLIOTT
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-See below for other reviews.
-Considering that the world lives from economics cycles, nothing fairer than thinking that cryptos also go through this process.
-Therefore, I would like to say that we are experiencing leg 5 of ELLIOTT's theory of waves, where, after wave 5, we can have the waves of ABC corrections further ahead and surf considerable highs.
-Remember, ELLIOTT's theory says the following about price behavior: “Emotion, Impulse and Subjectivity” where;
a) Emotion: the emotions of buyers and sellers directly interfere with the values, and we can see a large volume and transcribe the price emotions in graphs and with that we can even establish the real price of an asset and thus make the best decision;
b) Impulse: Is when investors simply follow the flow (currently falling) reflected directly in impulse, not using their decisions in technical or fundamental analysis of what the market is showing, this impulse effect is better known as “ herd effect”.
c) Subjectivity: It is the sum of the emotion and impulse principles described above, therefore, human psychology has direct interference in the oscillations that occur in the market, and through this understanding, Elliot Waves serve to explain what led to the evolution or fall of price of an asset.
-As relevant as understanding the principles, is understanding the patterns of this theory.
-Elliott's theory patterns are divided as follows: "five trend waves" (currently falling) and three correction waves currently experienced, so we have; “12345 of trend and ABC of trend correction”.
-Treating and using ELLIOTT's theory requires time and study, above, I have described only the important points, which should be detailed for better applicability in our daily lives.
-ELLIOTT
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-See below for other reviews.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.