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🟡 The Most Popular Myths About Bitcoin Debunked 🔑During the existence of bitcoin and other cryptocurrencies, a large number of erroneous judgments have appeared about them, which continue to spread among people even now. This leads to cryptocurrency being treated negatively, as the vast majority of myths about digital currencies are aimed at discrediting them. In this article, we will look at the most popular of them and debunk them for good. Bitcoin Can Be Hacked Cryptocurrencies are created based on blockchain technology, which organizes a database consisting of a chain of blocks. Each successive block has information about previous blocks. Such a database is stored simultaneously on all computers of the system participants. This technology is based on the principle of decentralization, that is, the database is not in one place, and all the computers participating in the system, form a network. To affect the network in any way, it is necessary to get 51% of its hash rate. Only then will it be possible to make changes to the transactions and impose their acceptance on a minority. Bitcoin's computing power is distributed all over the world, and to try to take over the network, a large amount of hardware has to be combined. Still, mining companies will not destroy their source of income. And even if someone decides to attack the system, it will at most lead to failures, which will be eliminated with emergency updates. However, cryptocurrency exchanges and other digital money services are vulnerable to hacking. Bitcoin Is Not Backed By Anything Back in 1971, the U.S. authorities abandoned the Bretton Woods system (the gold standard), and the U.S. dollar lost its peg to gold. Since then, the U.S. currency has not been specifically backed but is directly dependent on the country's financial stability. To understand what bitcoin is secured with and how its price is formed, it is necessary to consider the value and functionality that the cryptocurrency presents to its owner: Anonymity. No one monitors bitcoin transfers and has no right to influence (cancel or suspend) the transaction in any way; Low commissions. In the network of the main cryptocurrency, there is a fixed commission for transfers, which is set based on the load on the network. It means that the commission will be the same if you transfer $100 and $100k, as well as any other amount; Speed. Bitcoin transactions are usually instantaneous. Allowable delays range from a few minutes to one hour, depending on network load; Limitlessness. You can transfer bitcoins anywhere in the world. The main thing is that the recipient has a cryptocurrency wallet. Thus, bitcoin allows making anonymous payments and money transfers of any amount, regardless of the location of the sender and the recipient of the cryptocurrency. This factor, combined with bitcoin's limited issuance (21 million coins), determines the demand that subsequently forms the cryptocurrency's price. Bitcoin Is Used Only By Criminals The anonymity that cryptocurrencies give does allow the use of digital coins in illegal schemes. But, in this case, it is no different from cash, which is also used in illegal activities. Last year, bitcoin began to be actively bought by large companies to protect against inflation and other risks of the traditional financial market. For example, the main cryptocurrency of $1.5 billion was purchased by Tesla. According to CEO Elon Musk, Tesla sold 10% of bitcoins at the end of March and recorded a profit. The oldest U.S. banks, such as Morgan Stanley, Goldman Sachs, and JP Morgan, are also showing interest in cryptocurrencies. The latter is already preparing to launch its first actively managed bitcoin fund. Goldman Sachs will also make cryptocurrency investments available to clients. Bitcoin Is A Bubble Back in 2010, the price of bitcoin was less than $1, but now it is worth more than $23,000. Other cryptocurrencies have also seen their prices go up by hundreds or thousands of times. This gave reason to compare the cryptocurrency market with a bubble that will surely burst, and investors will be left with nothing. First of all, let's understand what a bubble is. It is an economic cycle of trading an asset characterized by an unsustainable growth of its market value. One of the first examples of such a bubble was the rise in the price of tulips in the Netherlands in the 17th century. At that time, their value soared tenfold, and never recovered after the collapse. There was also the famous dot-com bubble at the beginning of the century. Back then, the value of Internet companies soared and collapsed dramatically in a short period of time. Bitcoin and other cryptocurrencies have been around for more than a decade. During that time, they have gone through several cycles in which their value rose and fell. However, after all, previous falls, bitcoin has renewed its price records. Along with it, the entire cryptocurrency market grew. As analysts explain, cryptocurrency fluctuations form a pattern typical of young markets. They expect assets to rise and fall with smaller fluctuations over time, and the time between these cycles will increase. That is, the cryptocurrency market will become more stable and predictable. Buying Cryptocurrency Is Difficult Many potential investors are deterred from buying crypto assets by their lack of experience. Since it is a new and technological tool, it may seem complicated. In fact, it is possible to invest through special exchanges, mobile applications, or other trading platforms. The registration procedure on them is usually no more complicated than, for example, creating an account on a social network or in an online store. As a rule, the major exchangers ask to confirm the identity. To do this, it is necessary to upload a photo of the documents. This is a requirement of the world's regulators, which helps make exchanges more secure. However, those who value anonymity can also find exchanges where there are no such requirements. The process of buying cryptocurrency itself is also simple. To do this, you can top up your account and use it to make purchases or pay with your card directly for each cryptocurrency purchase. In terms of complexity, this procedure can be compared to recharging a cell phone or buying goods. One Needs A Lot Of Money To Buy Cryptocurrency Most people learned about the existence of cryptocurrency when the price of bitcoin reached tens of thousands of dollars, which would seem to immediately cut off investors with a budget of a few hundred. In fact, all services allow you to buy a share of bitcoin or another cryptocurrency. The minimum amount for which you can buy a cryptocurrency may vary from site to site, but usually, it's only a few hundred dollars. If you buy a bitcoin or other cryptocurrency, you will earn on its growth, as well as those who operate with tens of thousands of dollars. If an asset doubles in value, for example, then the investments of everyone who holds it will also double. The same will happen if the crypto-asset becomes cheaper. Only Pros Can Make Money With Cryptocurrency There is a widespread belief that buying cryptocurrency is similar to trading on the forex market. They say you have to buy it when it goes down in price, sell it when it goes up in price, and so on in a circle. And in order to do that one has to understand its trends, news, and reasons for daily price changes. Of course, that's how traders make money. However, most crypto investors are not actively trading. They only buy bitcoin or other tokens and wait for them to rise in price. This strategy is used by those who see the potential of cryptocurrencies in the long term. The superiority of this strategy is ease. You don't need to check the exchange rate every day and monitor the news. Cryptocurrency Guarantees Anonymity This myth arose because cryptocurrency allows for transactions outside of the banking system. There are also anonymous wallets, for the creation of which it is not necessary to enter any personal data. At the same time, it should be taken into account that any transaction is recorded in the blockchain and saved forever. This means that if bitcoin has been in a wallet that is associated with criminal activity, no matter how much it is sent to other wallets, it cannot be "laundered". Law enforcement can access the blockchain data and track down the person who made the transactions. However, because this procedure is complicated, it is used only in special cases. Everyone Who Buys Cryptocurrency Will Get Rich There are a lot of stories about people who bought bitcoin when it was worth a few hundred and woke up rich a few years later. Similar cases occur with other coins that have increased in price tens or hundreds of times. However, this does not mean that everyone who buys cryptocurrency will certainly get rich. Keep in mind that these are risky assets that can both rise and fall in value. In addition, their volatility is higher than that of stocks, real estate, or fiat currencies. Therefore, experts advise keeping 5% to 10% of their savings in crypto-assets. Cryptocurrency Is A Vogue, And It Will Go Away Soon A few decades ago, computers and e-mail were of interest only to a very limited number of technology enthusiasts. When Steve Jobs said that soon computers would be in every home, he was surprised to be asked, "what are they there for?". The same thing is happening now with cryptocurrencies. So far, they have been used by a relatively limited number of people. But today's cryptocurrencies create ecosystems that, according to analysts, will continue to evolve, and there will be more and more practical applications for them. There is growing interest in decentralized financial programs, which are safer, more reliable, and cheaper than the current systems. Tech giants are exploring ways to merge the real and digital worlds, using blockchain technology as a building block for this. States are thinking about creating their cryptocurrencies. So virtual assets, of course, will evolve and change but will remain with the technology on which they are based. Conclusion New tokens appear all the time and, quite possibly, some of them will increase in value hundreds of times. At the same time, some of them will depreciate or disappear altogether. Therefore, professionals advise diversifying your cryptocurrency portfolio: keep most of the funds in popular cryptocurrencies, such as bitcoin or Ethereum, and only part of the funds should be spent on new projects that seem promising. This will allow you to keep a balance between risk and reward.
OANDA:BTCUSDEducation
by FOREXN1
17
Bitcoin Cycles Explained (Elliott Wave Theory + NVT Indicator)Hello Traders. In this post, we are going to revise our Elliott Wave counts and also go into a deeper dive of how we can interpret the current decade cycle for Bitcoin. I am going to do my best and divide each section by using past cycles, Elliott Wave Theory, and one indicator in combination to help validate my point of view on where Bitcoin might be heading for the next cycle. If you haven't already, please do make sure to read my post on parabolic patterns and how I was able to predict the the 2021-2022 bullrun: As stated above, the three factors that I will be covering on how we can dissect the next Bitcoin cycle is: 1) Cycles (growth cycles according to the halving cycles) 2) Elliott Wave Theory + Market Psychology 3) NVT Indicator (Network Value to Transaction) --------------------- 1) Cycles (growth cycles according to the halving cycles): One of the biggest phenomenon to ever occur in the current financial market period is that Bitcoin has been working in a relatively algorithmic parabolic trend where cycles have been continuing in a compounding matter in terms of percentages. That begs the question, “are we going to assume that all past cycles will rhyme with the current cycle?” This is impossible to answer, but, we can take the time and try to predict cycles within cycles by discerning the growth phase of each cycle, and whether it will transition into something new, or, continue the fashion of rhyming cycles of the past. The best way to interpret Bitcoin's price action is via the logarithmic chart which shows the overall square root function of each cycle. Simply put, realistically, the log chart is slowing down on the longer timescale, meaning that Bitcoin is now currently in its fourth phase as shown in the chart - price maturity and store of value. Price maturity is shown in most stock models, meaning that markets do not move in straight lines and will always eventually have an end to all finite things, including price action. This chart also helps support the 'lengthening market cycle' theory, which is based on how fast the growth of a stock is shown. This idea works for Bitcoin in respect to how we cannot just continue to grow exponentially, which can then be backed by the Elliott Wave theory, which we will discuss later down below. As stated above, the cause of these growth cycles are what I believe (and the only way we can divide it by) is done via Bitcoin halvings, which leads to a supply shock and a subsequent rally, as that has been the only way we have observed in the past decade. As stock markets have their own cycles, mostly in the form of recessionary phases, Bitcoin works more along the line of where scarcity is the main factor. As history has shown that with a lower supply, the demand for the coins go higher, meaning that the fundamental value of Bitcoin may go down, and that becomes more of a 'Store of Value' asset, just like gold. Although this chart is just an observation and educated guess, we can still assume that this chart is realistic and a probable scenario as it is calculated with a balance of market psychology, technicals, and overall market cycle theories. If we also apply Murphy's law, we will also have to assume that all good things will come to an eventual end for a cycle. This is why I have divided each trading period in terms of Bitcoin's halving cycles, as that has been a great psychological indicator of how markets have reacted accordingly to price action in terms of time. The four cycles I have witnessed, and witnessing now in regards to the evolution of the markets, can be divided as such: a. 1st Growth Cycle - Use Case Discovery 
b. 2nd Growth Cycle - Price Discovery
 c. 3rd Growth Cycle - General Institutional Interest
 d. 4th Growth Cycle - Price Maturity (Store of Value); Retail Interest The first use case discovery is essentially the bare bones of the beginning of a trading period. The use-case discovery phase helps the sole investors create impactful change in the organization by bringing all investors together to collaborate. This format identifies high-value, low-effort use-cases and ensures these initiatives are being driven from the bottom-up rather than top-down. This is what has sparked the idea of currency replacement, or, as an alternative to the banking system as explained in the White Paper. The second growth cycle is what is known as the price discovery phase. Price discovery is the over balancing result of the interaction between sellers and buyers, or in other words, supply and demand outweighs one another. This is the next process of finding out the price of a given asset or commodity and gives higher interest to the early investors as the first resistance has been breached. There is a fair chance that this is a sound project and may be deemed as viable investment. Price discovery is the central function of all markets. It depends on a variety of tangible and intangible factors, from market structure to liquidity to information flow. The third phase is where we see enough people entering the markets to show that there is demand. As bitcoin moved higher throughout the year, the question was asked, “What makes bitcoin different now than the rallies we saw back in 2013 and 2017?” The biggest difference between this rally and past moves is that institutional investors have bought into the game, and this is seen as a crucial confidence boost for retail investors. The launch of CME Bitcoin futures in 2017, for example, and options in 2020, has helped spark massive institutional interest, and allowed investors to gain exposure to bitcoin without the regulatory, tax and custody issues facing the physical market. General institutional interest brought massive amounts of liquidity into the market by luring retail into the game as well. By this time, we can now see Bitcoin as solidified. This stage of the growth cycle is still considered to be the "early stages" of price action. The fourth phase is what is known as the price maturity phase, or store of value phase. This is where fundamentals have been solidified to the point of no return. Everyone knows what Bitcoin is. They may not necessarily know how it functions, but it's embedded within the society and more so even in cultures. We will see people interested in Bitcoin no matter what it brings to the table in terms of fundamentals. It is now considered a store of value, which is why it is widely regarded as the digital gold. The store of value concept does not mean it's a hedge against financial markets like many are deeming it to be, rather, Bitcoin should be seen as a highly liquid and a finite asset where people will try to find a price that is deemed "fair". Due to the finite aspect of it, this creates the idea of scarcity (i.e. one BTC = one lambo) and everyone wants a piece of the pie. This phase creates the largest liquidity within the markets making Bitcoin one of the easiest and most accessible assets to trade, relatively. As Bitcoin is now in its highly liquid state, this has created a much different and indirect investment philosophy than what we saw back in 2016-2018. Most people have "hoarded" to buy as much Bitcoin as they could back in that time period. Now, it's more of trying to find the "fair value" price and continued speculation on where Bitcoin actually might bottom for the current trading period. Due to this, we can see that the Bitcoin market has fully evolved into a huge liquid asset where the masses are trying to find the price floor, making it more difficult to trade. This in return can make the cycles longer. --------------------- 2) Elliott Wave Theory + Market Psychology Elliott Wave Theory has been a great tool to help increase the probability of predicting a larger cycle by using progressive actionary and corrective waves, in the form of 5 waves (actionary) and 3 waves (correction). There is no doubt that the Elliott Wave Theory has recently seen a surge of interest within the Crypto space and we are seeing an abundant amount of new traders trying to decipher Bitcoin through the Elliott Wave Theory. By having more people interested in trying to predict cycles via the Elliott Wave Theory, it then creates more impact on the herd psychology and efficacy of the theory, essentially increasing the percentage chance of a scenario playing out if many can agree to a collective scenario, also known as the self-fulfilling prophecy. The drawback is that it creates a plethora of open interpretations and can create a divide on which scenario is deemed viable. By understanding the theory inside out (please read my complete Elliott Wave Theory tutorial), you may have a great advantage in understanding what scenario is deemed best for you and the market.
 By adhering to the rules (rules must be met within the Elliott Wave Theory) and a set of guidelines provided by the Theory itself (the more guidelines the better - but doesn’t have to meet all guidelines, hence, this is what creates variations within wave interpretations and counts), you can then create multiple scenarios that may help you narrow down a sound scenario. Market Psychology is inherently tied to each wave structure of the motive and corrective waves. If you understand the rules and guidelines, you can then use that to your advantage by breaking down each wave degree according to market psychology. Each wave degree, both motive actionary and corrective, can be seen as a story as Ralph Elliott, the creator, said himself. How we can apply the psychology to each wave: a) Wave 1 (Actionary) + Wave 2 (Corrective): Buying on a wave 1 of the smaller degree has always been considered to be the best time to buy, usually by hindsight. Most of the general public will not be invested into Bitcoin during this phase, no matter how bullish one may be. This is usually where you will see the most fear related news within the markets when correcting for a wave 2. Most people will collectively think that the markets cannot recover as wave 2 can be the deepest of retracements within the five wave structure. Every correction within Bitcoin’s cycle is what we can call the ‘delusional phase’, or self-deception for that matter. The first bear market that Bitcoin has ever witnessed can be seen all the way back in 2010-2011, where the cycle degree of Wave 1 has corrected roughly 93% for Wave 2, wiping out an immense amount of profits that people bought on the way up of the previous cycle.
 A great example of that time period after that 93% correction has occured, can be that Bitcoin was seen by many as an insecure form of currency, had hacking issues, and just was overall considered to be a risky asset because of the sharp corrective nature of wave 1 to 2. At the bottom of 2015, we saw similar news along the lines of “Bitcoin is unsafe”, “Hacking issues”, “Bitcoin is not going to be able to recover”. The current bear cycle of 2022 can be deemed as the era of stablecoins, DEFI hacks, Mt. Gox payouts, and so forth. Wave 2’s are also very interesting in the idea that it is usually the period of time where people will usually say “I told you so”. Usually, the aftermath of wave 2’s will see even more bad news during this period of time. Due to the already harsh correction after wave 1, the price will usually not correct as hard even if the sentiment is worse than what we saw during the correction phase. A typical example you will see people saying during this time is, “This is the end for Bitcoin, and is going to $0”. b) Wave 3 (Actionary): This is a phase where everyone can be considered a genius and is not losing money. Most importantly, this is a period where most bears have already swapped to a bullish stance. The general public is almost always a step behind the markets because of this haze of euphoria. Due to this, this creates an extreme surge in price creating the characteristic of a Wave 3, where it will be the strongest movement in terms of time and price (most often, not always). This is a period of time where the general public is also where they are the invested into Bitcoin the most (or any other asset). You will typically see investors buying in or near the top of wave 3. This is where most people will question themselves, “this is not going to end, is it?” , “when will this parabolic trend end?”. This is where the wave 4 correction usually starts to come in once the general mass is asking the same question to themselves). c) Wave 4 (Corrective): This is surprisingly not the stage where most will call for an extreme bottom like we see in wave 2’s. Rather, due to the extreme rise of wave 3’s, most will deem this as the “healthy” correction stage because most will not sell their positions in anticipation for higher levels. The interesting aspect of market psychology is where the vast majority of people will hold through a wave 4, and will typically be in surprise when the wave 5 comes in, which helps re-confirm their bullish bias that the trend is going to continue. d) Wave 5 (Actionary): This is most often the stage where people will be even more invested into the asset, creating the highest liquidity vulnerability of any stage. All of the problems that occurred in wave 3 rolls over into wave 5 due to most people having already entered on a wave 3 or 4. Wave 5 usually offsets the anticipation of reconfirming the bullish bias that was created from the wave 3, hence, why most people will get burned the biggest after wave 5 ends. You will typically see mass psychology saying that, “this is going to $1M per Bitcoin”. The opposite can be applied on every bear market structure as well on the A and C waves of the larger ABC pullback for wave 2, where A and C are considered the actionary waves. As long you understand the 5 wave + 3 wave structures which can't be discussed in full detail within this post, you can then apply the exact opposite of what happens in a downtrend. For example, as stated above, I have mentioned that most people will buy into the top of actionary waves of 3 and 5. The reverse can be said for the downtrend - most people will sell off on the bottom of the actionary waves of 3 and 5 of the downtrend (also known as a capitulation phase), and instead of being euphoric like we see at top of waves 3 and 5, we see complete despair on waves 3 and 5 of the downtrend. --------------------- So this continues to beg the question, how can we take advantage of making sure we buy or sell at the right time according to the wave psychology structure?
 - Future of finance is seen at resistances, and Fear/Uncertainty is seen near supports, most typically. Remembering this will help indefinitely to your investment practices as the general public will usually be fearful during supports (Bears will also take advantage of trying to drive price down further), and euphoria during resistances or price discovery. After the 5th has ended, this is where the reset continues on each smaller 5 wave degree cycles. Those who have turned too bullish in waves 3 and 4 as stated above, the biggest mistake will be continuing to “buy the dip”, thinking it’s still part of that healthy correction like we saw for wave 4. 
 - Understand that if you know we are nearly finished with a 5 wave move, you are most likely transitioning into a bear market correction. Every correction of the bear market has been consisted of a 3 wave move as seen in the chart above. - By understanding that Bitcoin has gone through vicious cycles, we have countlessly seen this happen on every cycle. The question continues to be begged, will this finally be the beginning of an end to Bitcoin’s cycle, or, will this be the continued algorithmic continuation to newer highs? --------------------- 3) NVT Indicator (Network Value to Transaction This simple indicator has been one of the best predictors for accumulation zones for the past 10 years, and may be the only indicator you may ever really need to know when to buy Bitcoin. This answers my personal, "When Do I Buy Bitcoin?" question. The 'NVT' Indicator, is one of the most simple, yet highly effective indicators to date. This can be used to find ALL of the accumulation zones indicated by the overbought (red) and oversold (gray) territories. For simplicity: ⚪ Gray = Buy 🔴 Red = Sell The NVT indicator excludes the ‘FAIR PRICE’ of Bitcoin, and disregards the price at any given level. It is merely used as a metric to tell you that people may be accumulating in the GRAY zone due to the inactivity of the Bitcoin network. The current bear market has brought the NVT indicator BACK into the gray zone, further suggesting that even at $20,000 levels, you may be looking at possible BUYS for the next major cycle. This is also, effectively, a Dollar Cost Average (DCA) strategy, at best. It is the value of the market cap divided by the data transactions. In simpler terms, it is the number of Bitcoins in circulation divided by the number of Bitcoins transacted at the end of the day. In essence, the lower the value ratio, it can essentially give an extended warning signal that Bitcoin is most probably entering a period of inactivity and prolonged correction if it is in the gray zone. This can be translated to possibly as a buy signal. The reverse can be said about the NVT indicator going into the red zone. This means the activity is far higher and can indicate a signal that a prolonged period of overbought-ness can occur in the markets.

 As this is merely a preparation indicator, this can help you confirm a certain bias if used in conjunction with the Elliott Wave Theory. As with all indicators, this does have its drawbacks, hence, why it should be combined with other indicators and theories. The main drawback can be that it doesn't give a certain range of a time to "Buy" or "Sell". It is merely an indicator to tell you that, "hey it might be time to sell or buy Bitcoin". --------------------- 4) Scenarios (combining the Elliott Wave Theory and NVT indicator) 1st Scenario: If we are going to combine the rhyming cyclical moves for Bitcoin of the past decade, and speculate (assume) that we will see no real changes in corrections, we can assume that this cycle may have the biggest weight when combined with market psychology, with the added help of the NVT indicator, which is also in the gray zone. By assuming that the actionary cycle wave 3 has ended, we have to assume that the current move down is in a corrective wave. We can assume that wave 4 of the cycle degree is in its finishing stages. The correction can be either completed here, or, we can be seeing one more move down. As the current sentiment is collectively seeing this as a potential bottom zone, this can also help us stick to this scenario bias. This scenario in theory should work perfectly in retrospect if this scenario were to play out. For example, I mentioned that the biggest mistake of buying near the top of wave 3 happens the most by general investors. We are seeing to extent, actually, by a large degree, that most people are still holding their Bitcoins at a relatively high loss (can be backed by on-chain data by using the Unrealized Losses theory), and is still anticipating for more moves up. The next biggest mistake will be people continuing to hold their positions up until where wave 5 ends, or even worse, buying more near the top that will end abruptly short in this scenario. The best trading strategy for this scenario is to take profits accordingly and assume that the cycle is not going for a larger move to the upside, rather, assume that the larger 5 wave cycle is going to end near 100K as shown in the chart. 2nd Scenario: By simply adjusting our cycle waves, we can also arrange the degree waves to fit a certain bearish bias where the cycle wave 5 has ended. Adhering to the idea that we are in the market maturity phase, this can indicate that the markets are now already fully matured to the point where we can now go for the bigger correction that many may be looking for. Instead of seeing this as a shorter duration of a correction, we can also say that the current move down is just a larger 5 wave impulse creating an A Wave. The bear market rally should then follow suit, followed by another 5 waves for the larger C wave that can bring us down to levels that many would again deem Bitcoin dead. As for the NVT indicator, we can assume that Bitcoin is going to stay in the gray zone for a large extended time. 3rd Scenario: This scenario works on the idea of us being in a series of 1-2's. As we are working in a 10 year timespan, this is the least likely scenario. The only definitive backing to this scenario is that Bitcoin is going for a parabolic run that will be heavily nested for the next 5 years into uncharted territories well beyond 500K+. This would mean that Bitcoin would have to defy the next bear market for the running 5+ years or so. I hope this has helped you! All of these ideas are combined for educational purposes by using a theory that is hard to grasp technically. In the end, no one knows where Bitcoin is really heading, but we can help alleviate that by using some of the combined techniques of theories and technical analysis explained in this post. Enjoy, and be safe!
BNC:BLXEducation
by XForceGlobal
18
A Comprehensive Guide to Elliott Wave Degrees (Timeframes)Hello Traders. In this supplemental post to my Elliott Wave guide, I will help you understand wave degrees, and what the numbers actually mean when you are labeling each wave. Identifying the wave level (degree) that you are trading is going to be identified at any given time and will be based on what's known as a "degree". One of the biggest problems that new Elliott Wave traders have is grasping the structure or "nesting" of the wave patterns (check the diagram within the chart above). The patterns identified by Elliott himself, occurs across multiple time frames. This means that a completed "five wave" wave structure on a smaller time frame, for example, the 15 minute chart, may represent just the first wave of a larger wave structure unfolding on a 60-minute chart, and so forth. In a micro-macro sense, each of the unfolding wave patterns is just part of a bigger wave pattern unfolding in the higher timeframes. The sequence from wave 1 through 5 completes one wave of a higher degree (again, refer to the diagram above), that is, a wave belonging to the next higher tier of wave sequences. The movements from wave 1 through 5 completes either a wave 1, 3 or 5 of the higher degree, while the a-b-c sequence completes either a wave 2 or 4 of the higher degree. When you are getting into lower degrees, each wave of the sequence can be broken down into smaller waves accordingly to the same dynamic (this is not so important as many claim to be). The most commonly used degrees are the Primary, Intermediate, and Minor degrees when labeling your micro-macro wave counts. In the diagram above you can see how Wave 1 of the high degree is made up of a smaller 5-wave impulse waves and Wave 2 is made up of smaller three wave corrective waves. And each of these waves is, in turn, always comprised of smaller wave patterns, and so forth.
BYBIT:BTCUSD.PEducation
by XForceGlobal
15
A Comprehensive Guide to Elliott Wave Rules & GuidelinesHello Traders. In this post I will be discussing every single Elliott Wave rule and guideline according to the Elliott Wave Theory. There are many confusions upon traders when applying Elliott Wave rules, as there are also guidelines to be considered when trading. ***RULES AND GUIDELINES ARE TWO DIFFERENT SET OF TOOLS!*** Elliott Wave Theory "Rules" MUST be obeyed, I repeat, they MUST be obeyed, and obeyed precisely for an Elliott Wave pattern to qualify as an Elliott "Wave" - However, the "Guidelines" do not have to be obeyed. The more Guidelines obeyed by an Elliott pattern, the higher its "rating" or "probability" of being correct. This guide is purely a supplement guide and a quick reference for ANYONE who is trying to remember the rules and guidelines. I hope this guide helps you to further advance into the Elliott Wave Theory. Please write in the comment section below if I have missed anything, I will be glad to add them in the update section. ------------------------------------------------------------------------------ We can categorize the Rules and Guidelines into TWO distinctive pattern groups: 1. Impulsive Wave Patterns (5 wave moves), and, 2. Corrective Patterns (3 wave moves) ------- **IMPULSIVE WAVES** Impulsive Wave Rules: •Wave 2 may NEVER move beyond the origin of wave 1 (it cannot retrace more than 100% of wave 1). •Wave 4 may NEVER enter the price territory of wave 1. •Wave 3 may NEVER be the shortest wave. •Impulse waves ALWAYS subdivide into 5 waves. •Waves 1, 3, and 5 are ALWAYS 5 waves. Impulsive Wave Guidelines: •Wave 3 most often exceeds the pivot of wave 1 •On rare occasion, wave 5 will not move beyond the pivot of wave 3. This is known as TRUNCATION (refer to my EW guide). •Usually, wave 3 will extend and have 5 waves within the third wave. Occasionally, two waves will extend (3rd and 5th waves). Never will all three extend. •When wave 3 extends, wave 5 tends to EQUAL in length with wave 1. •When wave 5 extends, it frequently reaches to the length of waves 1 plus 3. •Wave 1 is the least likely to extend, but can be valid. •Sometimes, the extended wave corresponds with the current parent wave. (for example, In a higher degree wave 5, it is common for the lower degree wave 5 to extend as well) •Sometimes, the extended wave will match the number of the current parent wave •The center of Wave 3, normally has the steepest slope of the entire 5 wave structure. •Wave 2 will develop into a ZIGZAG correction, FLAT, or a COMBINATION wave (WXY, WXYXZ). Wave 2 cannot be a triangle in its entirety. •Wave 4 will develop into a ZIGZAG, FLAT, COMBINATION (WXY, WXYXZ), or TRIANGLE. Diagonal Rules: a. Leading Diagonal b. Ending Diagonal A Diagonal is a common 5 Wave Impulsive pattern labeled as a 1-2-3-4-5 that moves with the larger trend (up or down). Diagonals move within two channel lines drawn from Waves 1 to 3, and from Waves 2 to 4. A Diagonal MUST be contracting. There exist two types of Diagonals; Leading and Ending. They have a different internal structure and are seen in different positions within the larger degree pattern. Ending Diagonals are usually more common than Leading Diagonals in terms of probabilities. •Wave 1 of a Leading Diagonal must be an Impulse or a Leading Diagonal. •Wave 1 of an Ending Diagonal must be a Zigzag family pattern. •Wave 2 may be any corrective pattern except a Triangle. •Wave 2 must be less than Wave 1 by price. •Wave 3 of a Leading Diagonal must be an Impulse. •Wave 3 of an Ending Diagonal must be a Zigzag family pattern. •Wave 3 must be greater than Wave 2 by price. •Wave 4 may be any corrective pattern. •Waves 2 and 4 must either overlap or be within 10% of length Wave 3 of doing so. All internal data points are considered. •The time taken by Wave 4 must be between 10% and 10 times the time taken by Wave 2. •Wave 5 of an Ending Diagonal must be a Zigzag family pattern. •Wave 5 of a Leading Diagonal must be an Impulse or Ending Diagonal. •If Wave 1 is a Leading Diagonal then Wave 5 cannot be an Ending Diagonal. •Wave 3 must not be shorter than both Waves 1 and 5. •Wave 5 must be at least 80% of Wave 4 by price. •Wave 5 is never the longest when compared with Wave 1 and Wave 3. •Wave 5 is always less than Wave 3 by price. •The intersection of the channel lines must be beyond the end of the pattern. •Diagonals must move within the two channel lines or be within 10% of gross movement. •Channel lines must converge, slope in the same direction and neither be horizontal. •The maximum number of pattern lengths into the future that the channel lines intersect is 4. •The minimum time for Wave 5 is 10% of Wave 4. The maximum time for Wave 5 is 5 times Wave 3. Diagonal Guidelines: •Wave 1 of a Leading Diagonal is usually an Impulse, but in rare cases may be a Leading Diagonal. •Wave 2 is usually ZigZag family pattern. •Generally Wave 2 is greater than 35% of Wave 1's total price movement. •Wave 4 is commonly a Zigzag. •It is rare that at least either Waves 2 or 4 of an Ending Diagonal is not a Zigzag family pattern. •Generally Wave 4 is greater than 35% of Wave 3's gross price movement. •The end points of Waves 1 and 4 generally overlap. •Expect the time taken by Wave 4 to be between 20% and 5 times Wave 2. •Wave 5 is usually greater than Wave 4 by price. •It is typical for Wave 5 of a Leading Diagonal to end before reaching the channel line. •It is typical for Wave 5 of an Ending Diagonal to exceed the channel line. ---------- **CORRECTIVE WAVES** ZigZag Rules: A ZigZag is a three wave structure labeled A-B-C, generally moving counter to the larger trend. It is the most common three wave Elliott pattern. Zigzags are corrective in nature. •Wave A must be an Impulse or a Leading Diagonal. •Wave B can only be a corrective pattern. •Wave B must be shorter than Wave A by price. All internal points are considered. •Wave B must be at least 20% of A by price. •Although there is no minimum time constraint for Wave B, it must not exceed 10 times the time taken by Wave A. Wave C must be an Impulse or an Ending Diagonal. •If Wave A is a Leading Diagonal, then Wave C must not be an Ending Diagonal. •Wave C must be longer than 90% of Wave B by price. •Wave C must be less than 5 times Wave B by price. •It is not allowable to have both Wave 5 of A a failure (Wave 5 is shorter then Wave 4) and Wave 5 of C a failure. •Wave C must be no more than 10 times either Wave A or B in price or time. ZigZag Guidelines: •It is unusual for a Wave within Wave A to have a greater gross price movement than Wave A. •Wave B should end nowhere near beginning of Wave A •Wave B should retrace at least 30% of Wave A. •Wave B is most likely to retrace Wave A by about 38.2%. •Wave B is next most likely to retrace Wave A by about 50%. •Wave B is next most likely to retrace Wave A by about 61.8%. •The largest Wave in B is usually less than the gross price movement of Wave A. •The time taken by Wave B is usually between 61.8% and 161.8% of the time taken by Wave A. •Wave C is most likely to have a similar price length to Wave A. •The next most likely price lengths for Wave C are 61.8% and 161% of Wave A •The next most likely price length for Wave C is 61.8% of Wave A beyond the end of Wave A. •If Wave C is much longer than 161.8% of A, then the pattern is more probably the beginning of an Impulse than a Zigzag. •If Wave C is complete, and has a greater slope than Wave A, expect the Zigzag to extend to an Impulse. •Although Wave C should always be greater in price to Wave B, in rare cases Wave C can be up to 10% shorter than Wave B. •The largest Wave within C by price is usually less than the gross price movement of Wave A. •The time taken by Wave C is usually between 61.8% of Wave A and 161.8% of the shortest Wave of A and B. Flat Rules: A Flat is a three wave pattern labeled A-B-C that moves generally sideways. It is corrective and counter-trend and is a very common Elliott pattern. •Wave A can be any corrective pattern except a Triangle. •Wave B can be any corrective pattern except a Triangle. •Wave B must retrace more than 70% of Wave A. •Wave B is less than twice the price movement of Wave A, including internal points of Wave B. •Although there is no minimum time constraint for Wave B, it must be less than 10 times Wave A. •Wave C must be an Impulse or Ending Diagonal. •Wave C must share some common price territory with Wave A. •Wave C must be less than twice the longest of Waves A and B, including internal points of Wave C. •Wave C must be less the three times the price distance of Wave A. •Disallow back to back failures. •Wave C must be no more than 10 times either Waves A or B in price and time. •There is no minimum time constrains for Wave A. Flat Guidelines: •Wave A is usually a Zigzag family pattern. •Wave A is rarely an Expanding Triangle. •The largest Wave within Wave A is usually less than Wave A by price. •Wave B is usually a Zigzag family pattern. •Wave B is rarely a Flat. •Wave B is usually greater than 95% of Wave A by price. •Wave B is usually less than 140% of Wave A by price. •The largest Wave within B is usually less than Wave A by price. •The time taken by Wave B is generally between 61.8% and 161.8% of Wave A. •Wave C is rarely an Ending Diagonal. •Wave C is often about the same length as both Wave A and B. •Wave C often ends at point which is a percent of Wave A beyond end of Wave A equal to the same percentage away from the start of Wave A. •Wave C usually retraces a minimum of 100% of Wave B. •Wave C normally reaches to the end of Wave A •Wave C is not often more than 140% of the longer of Wave A or B. •If Wave C is longer than Wave B, then Wave C is often about 61.8% of A beyond end of A. •If Wave C is longer than Wave B, then Wave C is often about 161.8% of Wave A from end of Wave B by price. •The time taken by Wave C is generally between 61.8% of Wave 1 to 161.8% of the shortest of Waves A and B. Triangle Rules: CT = Contracting Triangle, ET = Expanding Triangle A Triangle is a common 5 Wave pattern labeled A-B-C-D-E that moves counter-trend and is corrective in nature. Triangles move within two channel lines drawn from Waves A to C, and from Waves B to D. A Triangle is either Contracting or Expanding depending on whether the channel lines are converging or expanding. Expanding Triangles are rare. •Wave A of a CT is always either a Zigzag based pattern or a Flat. Wave A of an ET can only be a Zigzag based pattern. •Within Wave A of a CT, Wave B must be less than 105% of Wave A's price length. The same rule applies for Waves C and D of the CT. •Wave B must be a Zigzag based pattern. •Wave C of a CT can be any corrective pattern except a Triangle. Wave C of an ET must be a Zigzag based pattern. •Wave B of a CT must retrace Wave A by 50%. •For a CT, Wave C must be less than Wave B by price and Wave C must be greater than or equal to 50% of Wave B by price. •For an ET, Wave B must be less than Wave C by price and Wave B must be greater or equal to 50% of Wave C by price. •Wave D of a CT can be any corrective pattern except a Triangle. Wave D of an ET must be a Zigzag based pattern. •Wave B, C and D must not move more than 10% beyond the A-C & B-D channel lines (based on the length of Wave C). •In an ET, Wave C must be less than Wave D by price and Wave C must be more than 50% of Wave D by price. •In an ET, Wave A must move within the A-C channel or pass through it by no more than 10% of the length of Wave B by price. •In an CT, Wave D must be less than Wave C by price and Wave D must be greater than or equal to 50% of Wave C by price. •The intersection of the channel lines must occur beyond the end of a CT, and before the beginning of an ET. •The channel lines must either converge or diverge. They cannot be parallel. •Wave D of a CT must not end such that when retraced 25% by E, E will not reach the price territory of A. •Only one channel line in a CT may be horizontal. Neither channel line of an ET can be horizontal. •The maximum time for Wave D is 4 times Wave C. •Wave E of a CT can either be a CT or a Zigzag family pattern. For an ET, Wave E must be a Zigzag based pattern. •In an ET, Wave E must be greater than Wave D by price and Wave D must be greater or equal to 50% of Wave E by price. •In an ET, either Wave A or B will be the shortest Wave in the pattern. •In a CT, Wave E will be less than Wave D by price and Wave E will be greater than or equal to 25% of Wave D by price. •In a CT, either Wave A or B will be the longest Wave in the pattern. •In a CT, the maximum time for Wave E is 4 times Wave C. •Wave E must end in the price territory of A. •Wave E must not pass through the B-D line, or if it does, by no more than 10% of the length of Wave D. •The maximum number of pattern lengths into the future that the channel lines intersect is 6. Triangle Guidelines: •Wave A is usually a zigzag family pattern. •Wave B is usually a zigzag family pattern. •Wave C is often a zigzag family pattern. •Wave C usually takes more time than any other Wave in the pattern. •Wave D is usually a zigzag family pattern. •Waves B, C and D rarely move outside the B-D line. •Waves A, B, C and E rarely move outside the A-C line. •Wave E is usually a zigzag family pattern or the same type of Triangle as the larger pattern. •Usually at least two Waves travelling in the same direction will relate by about 61.8%. •It is common for two or more adjacent Waves will be related by 61.8%. •In a CT, Wave E normally retraces Wave D by about 70%. •Double and Triple ZigZag Rules: •Double (DZ) and Triple (TZ) Zigzags are similar to Zigzags, and are typically two or three Zigzag patterns strung together with a joining Wave called an x Wave, and are corrective in nature. Doubles are not common, and Triples are rare. Zigzags, Double Zigzags and Triple Zigzags are also known as Zigzag family patterns, or 'Sharp' patterns. Double Zigzags are labeled w-x-y, while Triple Zigzags are labeled w-x-y-xx-z. Both these patterns are included in the list of rules and guidelines below. Only a Double Zigzag is illustrated below. Double and Triple ZigZag Rules: •Wave W must be a Zigzag. •Wave C of W cannot be a failure. •Wave X can be any corrective pattern except an ET. •Wave X must be smaller than Wave W by price. •Wave X must retrace at least 20% of W by price. •The gross price movement of Wave X must be less then 3 times the price movement of Wave W. •Wave X must be no more than 5 times Wave W by time. •Wave Y must be a Zigzag •Wave Y must be greater than or equal to Wave X by price. •Back to back and double failures are not allowed. •Wave Y must be greater than 90% of Wave W by price, and Wave Y must be less than 5 times Wave W by price. •Wave Y must be no more than a factor of 5 times either Wave X or W in price or time. •Wave C of Y cannot be a failure. •Wave XX can be any corrective pattern except an ET. •Wave XX must be smaller than Wave Y by price. •Wave XX must retrace at least 20% of Y. •The gross price movement of Wave XX must be less than 3 times the gross movement of Wave W. •Wave Z must be a Zigzag •Wave Z must be greater than or equal to Wave XX by price. •Wave Z must be less than 5 times Wave Y by price, and must also be less than 5 times Wave W by price. •Wave Z must be no more than a 5 times either Waves XX, Y, X or W in both price and time. •Double and Triple ZigZag Guidelines: •The largest Wave in Wave W is usually less than Wave W by price. •Wave X is usually a Zigzag family pattern. •Wave X is usually less than 70% of Wave W by price. •Wave X will usually retrace at least 30% of Wave W. •Wave X is most likely to be a 38.2% retracement of Wave W. •Wave X is next most likely to be a 50% retracement of Wave W. •Wave X is next most likely to be a 61.8% retracement of Wave W. •The largest Wave in Wave X is usually less than 140% of Wave W by price. •The time taken by Wave X is usually between 61.8% and 161.8% of Wave 1. •Wave Y is next most likely to be equal to 61.8% or 161.8% of W by price. •Expect the time taken by Wave Y to be between 61.8% of Wave W and 161.8% of shortest of Wave W and X. •Wave XX is usually a Zigzag family pattern. •Wave XX is usually less than 70% of Wave Y by price. •Wave XX will usually retrace at least 30% of Wave Y. •Wave XX is most likely to be a 38.2% retracement of Wave Y. •Wave XX is next most likely to be a 50% retracement of Wave Y. •Wave XX is next most likely to be a 61.8% retracement of Wave Y. •The largest Wave within Wave XX is usually less than 140% of Wave Y by price. •Wave Z is most likely to be about equal to Wave Y by price. •Wave Z is next most likely to be about equal to 61.8% or 161.8% of Wave Y. •The largest Wave in Wave Z is usually less than Wave Y by price. Double and Triple Sideways Rules: Double (D3) and Triple (T3) Sideways patterns are similar to Flats, and are typically two or three corrective patterns strung together with a joining Wave, called an x Wave, and are all corrective in nature. Doubles are not common, and Triples are rare. Doubles are labeled w-x-y, while Triples are labeled w-x-y-xx-z. Both these patterns are included in the list of rules and guidelines below. Only a Double 3 is illustrated below. •Wave W may be any corrective pattern except a Triangle, double or triple. •Wave C of W cannot be a failure. •Wave X may be any corrective pattern except a Triangle, double or triple. •The minimum X Wave retracement is 70% of Wave W. •The maximum price distance of Wave X is 150% of both the previous Wave and ensuing Wave. All internal data points are considered. •Although there is no minimum time for Wave X, the maximum time is 10 times the time taken by Wave W. •Wave Y may be any corrective pattern except double, triple or a Triangle in a Triple Zigzag. However, Wave Y cannot be a Zigzag if Wave W is a Zigzag. •Wave Y must be greater than or equal to Wave X by price, except if Wave Y is a Triangle. •Wave C of Y cannot be a failure. •Wave Y must be no more than 5 times either Wave X or W in price and time. •Wave Y has no minimum time constraint. •Wave XX may be any corrective pattern except a Triangle, double or triple. •The minimum Wave XX retracement is 70% of Wave Y. •The maximum Wave XX retracement is 150% of previous Wave and ensuing Wave. All internal data points are considered. •Wave Z may be any corrective pattern except double or triple. However Wave Z cannot be a Zigzag if Y is a Zigzag. •Wave Z is greater than or equal to XX by price. •Wave Z must be no more than 5 times either Waves XX, Y, X or W in price and time. •Back to back and double failures are not allowed. •If Wave Y is greater than Wave W by price, then the maximum Wave Z price movement is twice the price movement of Wave W. Double and Triple Sideways Guidelines: •The largest Wave in Wave W is usually less than 140% of Wave W by price. •Wave X is usually a Zigzag family pattern. •The largest Wave in Wave X is usually less than Wave W by price. •Wave X is usually less than 140% of W by price. •Wave X is usually greater than 95% of Wave W by price. •The most likely retracement for Wave X is 110% of Wave W. •Time for X is generally between 62% of W1 and 1.618 of the time of W1. •If Wave Y is a Triangle, the most likely length of Wave Y is about 61.8% of Wave W. If Wave Y is not a Triangle, the most likely lengths for Wave Y are 100% of Wave W, 161.8% of Wave W and 10% of the length of Wave W beyond the end of Wave W. •The largest Wave in Wave Y is usually less than 140% of Wave W by price. •Wave Y is usually less than twice the longest of Wave W and Wave X in price. •Wave Y is generally between 61.8% of Wave W and 161.8% of Wave W in time. •Wave XX is usually a Zigzag family pattern. •The largest Wave in Wave XX is usually less than Wave Y in price. •Wave XX is usually less than 140% of Wave Y by price. •Wave XX is usually greater than 95% of Y by price. •The most likely retracement for Wave XX is 110% of Wave Y. •If Wave Y is a Triangle, most likely length by price is 61.8% of Wave W. If Wave Y is not a Triangle, then the most likely lengths are 100% of Wave W, 161.8% of Wave W and 10% of length of Wave W beyond the end of Wave W, all by price. •The largest wave in Wave Z is usually less than 140% of Wave Y by price. •Wave Z is usually less than twice the longest of Wave Y and Wave XX.
COINBASE:BTCUSDEducation
by XForceGlobal
44
Marubozu Candlestick Pattern 📉📉📉‼️ What is a Marubozu in forex? A Marubozu is a long or tall Japanese candlestick with no upper or lower shadow (or wick). The candlestick pattern comes in both a bearish (red or black) and a bullish (green or white) form and is easy to spot due to its long body. It basically looks like a vertical rectangle. ‼️ How can you tell if Marubozu is bullish? The closing Marubozu is a stronger candlestick pattern. It is formed when the close price is equal to the high or the low of the day. When the close price is equal to the low then it is called bearish and when the close is equal to the high it is a bullish Marubozu ‼️ What happens after a Marubozu candle? After two long red candles, the bearish Marubozu close pattern occurs, which signals that the bears are still a dominant force. Ultimately, the price action continues to move lower as the market was very bearish during this period of time ‼️ How do you use a Marubozu candlestick? Basically, when trading marubozu candlesticks, Watch for bullish or bearish candlesticks to form. If bullish, take a long when price breaks above. Place stop below candlesticks. If bearish, take a short when price falls below. Place a stop above candlestick.
GEducation
by AnonimFXRO
Cup and Handle Trading Pattern 📉📉📉✅ A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift. A cup and handle is considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long. 🎯 Cup Handle Pattern William O'Neil's Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. ... The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed 🎯 What happens after cup and handle pattern? If a cup and handle pattern is confirmed, it will be followed by a bullish price move upward. You can pick a price target based on the size of the cup, but it becomes much less clear what will happen after the initial breakout from the cup and handle pattern. 🎯 How reliable is cup and handle pattern? The accuracy rate for cup and handle pattern for forex and stock on Daily timeframe are 65% and 68% respectively.
OANDA:XAUUSDEducation
by AnonimFXRO
RISK ON vs RISK OFF 📉📉as i use this confluence to enter trades. 🎯 Risk ON vs Risk OFF market sentiment reflects all the market activity, its not a market sentiment for crypto or forex or stock market its for all the financial markets, when i use this confluence i try to understand what are institutional/retail investors are doing are they buying risk on assets or they are buying risk on assets. 🎯 Usually investors buy risk on assets when they are looking for risk meaning they want higher yield on their investment they want to MULTIPLY money(key word) this is happening during times of financial prosperity, no wars, no lockdowns, no problems around the world everyone are doing great and making money 🎯 On other side RISK OFF is when investors tend to buy financil assets that PROTECT (key word) their capital they dont want a high yield they want just to save their money and protect during time of financial stress, wars, lockdowns when everything is not clear and safe. ✅ RISK ON Assets Stock Market Crypto USOil AUD NZD CAD EUR GBP ✅ RISK OFF Assets Government Bonds JPY CHF USD GOLD SILVER
COINBASE:BTCUSDEducation
by AnonimFXRO
Entry Confluences - Examples 📉📉📉🎯 Those are the examples where you use all the confluences i am teaching in my community posts. ✅ Market Structure ✅ Key Level ( Support, Resistance areas) ✅ Candlestick Patterns ( bullish or bearish ) ✅ Fibonacci Retracement ( discount or premium ) You can use them as a single confluence but to have a better trade probability i recommend to allign them together, remember focus on the quality not the quantity. You don't need a lot of trades to make money in the markets, you need high quality trades patience and discipline. What is your analysis ?
Education
by AnonimFXRO
Spinning Top's Candlestick Pattern ✅✅ A spinning top is a candlestick pattern that has a short real body that's vertically centered between long upper and lower shadows. The candlestick pattern represents indecision about the future direction of the asset. It means that neither buyers nor sellers could gain the upper hand. ✅ White spinning tops are candlestick lines that are small, green-bodied, and possess shadows (upper and lower) that end up exceeding the length of candle bodies. They often signal indecision between buyer and seller. To look for the spinning top among the red candles, you can use the Spinning Top Black candle pattern ✅ There are two variations of this chart pattern: the bullish spinning top (green in colour) and the bearish spinning top (red in colour). The bullish formation occurs when the closing price is higher than the opening price, while the bearish pattern occurs when the opening price is higher than the closing price. Do you use this candlestick pattern in your analysis ?
Education
by AnonimFXRO
Fear/Greed Index = NEUTRAL ✅As many of you guys know closely look at the Fear/Greed Index indicator when trading the crypto market and i try to allign the technical analysis with the sentiment analysis because crypto market is very emotional and many moves are based on the emotions either it's fear/greed or anything else. For today the 04.02.2022 FEAR/GREED index indicator is located at a NEUTRAL area meaning we have no ENTRY, the RETAIL HEARD is not in a GREED or a FEAR Sentiment so there is no trading opportunity based on this market analysis tool, let's wait for the btc drop somewhere around 45k - 42.5k in those areas there is a high probability the tool will be somewhere around 40-50 FEAR area so that will be a good LONG ENTRY. ✅ Why Measure Fear and Greed? The crypto market behaviour is very emotional. People tend to get greedy when the market is rising which results in FOMO (Fear of missing out). Also, people often sell their coins in irrational reaction of seeing red numbers. With our Fear and Greed Index, we try to save you from your own emotional overreactions. There are two simple assumptions: ✅ Extreme fear can be a sign that investors are too worried. That could be a buying opportunity. ✅ When Investors are getting too greedy, that means the market is due for a correction. Therefore, we analyze the current sentiment of the Bitcoin market and crunch the numbers into a simple meter from 0 to 100. Zero means "Extreme Fear", while 100 means "Extreme Greed". See below for further information on our data sources. What do you think ? Do you use this market tool ?
COINBASE:BTCUSDEducation
by AnonimFXRO
BITCOIN EXCHANGE RESERVE 📉📉📉📉 WHY I AM BULLISH ON BITCOIN FROM A FUNDAMENTAL-MACRO PERSPECTIVE ? ✅ Exchange reserve is a collective measure of potential coins that are ready to be sold in the market. Exchange Reserve is the accumulated result of Exchange In/Outflow & Netflow which naturally follows the indications that in/outflow has. Similar to Exchange NetFlow's interpretation, an increasing trend in netflow indicates the selling pressure and the decreasing trend indicates the buying pressure. However, instead of Exchange In/Outflow & Netflow indicating the specific moment or period, Exchange Reserve is easy to track the result of the entire period's movements ✅ It indicates the degree of accumulated selling pressure in the exchange High : High selling pressure A large number of coins are staying in the exchange to be traded indicating high selling pressure Low : Low selling pressure A Small number of coins are staying in the exchange to be traded indicating low selling pressure ✅ It shows the changing status in scarcity Increasing trend: Decreasing scarcity -Bearish More coins are available in the exchange indicating decreasing scarcity of coins that are being traded which supports bearish movement Decreasing trend: Increasing scarcity - Bullish Fewer coins are available in the exchange indicating increasing scarcity of coins that are being traded which supports bullish movement
BINANCE:BTCUSDEducation
by AnonimFXRO
BOS - BREAK OF STRUCTURE 📉📉📉🎯 WHAT IS BOS ? BOS - break of strucuture. I will use market strucutre bullish or bearish to understand if the institutions are buying or selling a financial asset. To spot a bullish/bearish market strucutre we should see a higher highs and higher lows and viceversa, to spot the continuation of the bullish market strucuture we should see bullish price action above the last old high in the strucutre this is the BOS. 🎯 BOS for me is a confirmation that price will go higher after the retracement and we are still in a bullish move Kindly see attached photos Do you use BOS as a trading concept ?
Education
by AnonimFXRO
2
USDT.D has breakout! what's next?Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities. Do consider following me for the latest updates and Long /Short calls on almost every exchange. I post short mid and long-term trade setups too. Let’s get to the chart! I have tried my best to bring the best possible outcome in this chart, Do not consider it as an USDT DOMINANCE has broken out this symmetrical triangle pattern but for confirmation, we should wait for one more candle to close above the downer support level of this symmetrical triangle. Then we can expect a drop of up to 23%. 4.25% level is a very strong support level needed to break this level for more further move. let's see how the market reacts in a few hours This chart is likely to help you in making better trade decisions, if it did do consider upvoting this chart. Would also love to know your charts and views in the comment section. Thank you
CRYPTOCAP:USDT.DEducation
by CRYPTOMOJO_TA
The Madness of the Crowds ✅✅✅ ✅ The Madness of Crowds One way to view the market is as a disorganized crowd of individuals whose sole common purpose is to ascertain the future mood of the economy—or the balance of power between optimists (bulls) and pessimists (bears)—and thereby generate returns from a correct trading decision made today that will pay off in the future. 🎯However, it's important to realize that the crowd is comprised of a variety o individuals, each one prone to competing and conflicting emotions. Optimism and pessimism, hope and fear—all these emotions can exist in one investor at different times or in multiple investors or groups at the same time. In any trading decision, the primary goal is to make sense of this crush of emotion, thereby evaluating the psychology of the market crowd. Understanding Herd Behavior The key to such widespread phenomena lies in the herding nature of the crowd: the way in which a collection of usually calm, rational individuals can be overwhelmed by such emotion when it appears their peers 🎯 The Risks of Following the Crowd The key to enduring success in trading is to develop an individual, independent system that exhibits the positive qualities of studious, non-emotional, rational analysis, and highly disciplined implementation. The choice will depend on the individual trader's unique predilection for charting and technical analysis. If market reality jibes with the tenets of the trader's system, a successful and profitable career is born (at least for the moment). 🎯 So the ideal situation for any trader is that beautiful alignment that occurs when the market crowd and one's chosen system of analysis conspire to create profitability. This is when the public seems to confirm your system of analysis and is likely the very situation where your highest profits will be earned in the short term. Yet this is also the most potentially devastating situation in the medium to long term because the individual trader can be lulled into a false sense of security as their analysis is confirmed. The trader is then subtly and irrevocably sucked into joining the crowd, straying from their individual system and giving increasing credence to the decisions of others. 🎯 Inevitably, there will be a time when the crowd's behavior will diverge from the direction suggested by the trader's analytical system, and this is the precise time at which the trader must put on the brakes and exit his position. This is also the most difficult time to exit a winning position, as it is very easy to second guess the signal that one is receiving, and to hold out for just a little more profitability. As is always the case, straying from one's system may be fruitful for a time, but in the long term, it is always the individual, disciplined, analytical approach that will win out over blind adherence to those around you.
COINBASE:BTCUSDEducation
by AnonimFXRO
Order Types in the Markets💰💰💰🎯 In the financial market the orders are on two categories. ✅ Market Execution orders LONG - BUY SHORT - SELL meaning that you are ok with the price on the certain asset and you would like to short or long it on the other side there is ✅ Pending Orders - meaning you are not ok with the actual price and you would like to buy/sell it later in time I use pending orders when i am out of my trading office so i dont miss trading opportunities Was this valuable, drop a comment !
BINANCE:BTCUSDEducation
by AnonimFXRO
2
Crypto Explainer - What is Bitcoin (BTC) + Price AnalysisAlthough Bitcoin is very well known today, many still don't understand it fully. Here's a quick explainer of what Bitcoin is, why the big fuss about eco-friendliness is surfacing and affecting its prices, and what's happening with Bitcoin's price. Bitcoin is a decentralized digital currency that can be sent from user to user, without any intermediary. The Bitcoin token runs on the Bitcoin Blockchain, which facilitates the transfer of those tokens thanks to a peer-to-peer network. In order to maintain this infrastructure, miners (aka distributed computers) make sure transactions tally and are processed correctly. In turn, they would get a small fee from the transaction they processed. There are many debates about “inefficiency and eco-friendliness” in the crypto community today. And that’s the main weak point for Bitcoin. This year 2021, Elon Musk criticized Bitcoin, saying that it is unsustainable and bad for the environment, as miners who maintain the Bitcoin blockchain require a tremendous amount of electricity. On the other hand, what if Bitcoin mining improves and we find more efficient ways to mine in the future? Any improvement in the fundamentals leads to better Bitcoin valuations. This dilemma paved the way for other altcoins to emerge and solve this scalability problem. But Bitcoin remains the biggest cryptocurrency by market capitalization, as its valuation surpassed 1 Trillion recently. Invest responsibly, and always do your own research. CryptoTicker team
BITFINEX:BTCUSDEducation
by CryptoTicker