Market Price Movement $BTC Education: What Is the Elliott Wave Theory?

The Elliott Wave Theory in technical analysis describes price movements in the financial market. Developed by Ralph Nelson Elliott, it observes recurring fractal wave patterns identified in asset price movements and consumer behavior. Investors who profit from a market trend are described as riding a wave.

Key Takeaways:
- The Elliott Wave theory is a technical analysis of price patterns related to changes in investor sentiment and psychology.
- The theory identifies impulse waves that establish a pattern and corrective waves that oppose the larger trend.
- Each set of waves is within another set of waves that adhere to the same impulse or corrective pattern, described as a fractal approach to investing.

How Do You Trade Using Elliott Wave Theory?
If a trader sees an asset moving upward on an impulse wave, they may go long until it completes its fifth wave. Anticipating a reversal, the trader may then go short on the asset. Underlying this trading theory is the idea that fractal patterns recur in financial markets. In mathematics, fractal patterns repeat themselves on an infinite scale.

#ElliottWaveTheory #financialeducation #ElliottImpulsiveWave #ElliottImpulsiveWave #Elliottwaves

#RUNE 4hr. Chart Analysis

$RUNE [ThorChain] at present going to Bullish trend after the update news and it will be moving under #ElliottImpulsiveWave and after completed its final Wave recently, it was starts moving towards first #CorrectionWaves formally as well.

From $3.1 at 7th Nov., its #ElliottWaveTheory starts and grown upto $6.68 around and finally now its correction wave starts that will be finish out approx. $4.5 to $4.3 before next week start-up with new cycle.

Lets see, whats the actual points of movements at every cut-off points but major chances that it will be take a correction before another #Bullish trend towards next ride of $13-$15 next time.

Always DYOR before investing or Trading and use Stoploss into Tradings too, Its NFA 🙏

#Bitcoin Daily Chart Analysis

As per 1-day chart analysis, $BTC performing well as per my previous perdictions, already posted and mentioned below in chart with its last Lower-Low, soon around $52k to $48k, while Bitcoin already completed its second-final mark of $53.5k that lies between $55k to $52k as per given charts.

So, you will need to take some more patience upto july month end, to completing its last Lower-Low Cut off mark and then from august onwards, Bitcoin will starts moving slowly sideways with #Altcoins rally starts and slowly from sept. onwards fully mode of BullRun 2024-25 cycle will be starts into their finally new #ElliottImpulsiveWave , that's moving upto next 7-8 months...!

Anyways,
always #DYOR before investing in Crypto and Trade with using of #StopLoss at this situations.

Just looking at the 1h Chart, i think XVS looks to have completed an ABC corrective pattern already, and wave 1 and 2 of a new elliot wave have already taken place, which means we’re in wave 3 which is supposed to be the biggest.

2 Possible scenarios to enter a long trade.

1. AGGRESSIVE
Entry now, between 7.5-7.6
TP1: 7.940
TP2: 8.116
TP3: 8.292
SL: 7.150
2.CONSERVATIVE
Enter above 7.728 which is the resistance on the 4H chart.
TP1: 7.940
TP2: 8.116
TP3: 8.292
SL: 7.556

Also happy to get any feedback from any pro trader here on my understanding of the analysis. gotta love some constructive feedback to learn more! 😊

$XVS #XVS/USDT #ElliottImpulsiveWave $BTC