#Education #MarketDownturn #PowellAtJacksonHole #MtGoxRepayments #EarnFreeCrypto2024 $BTC
đ Elliott Waves Analysis!
Elliott Waves Analysis, created by Ralph Nelson Elliott, is a complex and subjective method used to predict market trends. It involves two types of waves: impulse waves and correction waves.
Finding Impulse Waves:
âïž Wave 3 should be longer than Wave 1 and/or Wave 5.
âïž Correction Wave 2 should be 38.2% - 61.8% of Wave 1.
âïž Correction Wave 4 should be 38.2% - 61.8% of Wave 3.
Use Fibonacci levels to measure wavelengths!
On the Weekly BTCUSD chart:
đ»Wave 3 is longer than Wave 1 (over 161.8% of Wave 1).
đ»Wave 2 is 38.2% of Wave 1.
đ»Wave 4 is about 38.2% of Wave 3.
đ»Wave 5 is 100% of Wave 3.
đ»After Wave 5, expect a correction (BTCUSD may fall)
âDo you want to use Elliott waves professionally? Check itđ
