Can Elliott Waves really predict the price of Bitcoin?
Elliott suggested that financial price trends derived from market psychology are the predominant use of investors. He found that fluctuations in crowd psychology always appear in the same repeating fractal patterns or “waves” in financial markets.
Elliott Corrective Waves
Overcoming corrections is a very difficult task. Most Elliott traders make money during the moving pattern and then lose it during the correction phase. The movement pattern consists of 5 waves. A correction pattern consists of three waves and is usually a triangle pattern. The correction pattern is divided into 2 different categories, which include simple correction and combined correction.
ZigZag correction
In simple correction there is only one pattern. This pattern is called zigzag modification. A zigzag correction pattern consists of a three-wave pattern. that wave B cannot correct more than 75% of wave A. Wave C creates a new low below wave A. Usually wave A of a zigzag correction has a 5-wave pattern. In the other 2 cases, the correction (flat and irregular) of wave A has a 3-wave pattern. So if you can identify five waves in wave A, you can expect the correction to end with a zigzag pattern.
COMBINATIONS (DOUBLE AND TRIPLE THREES)
The combined modification group consists of three parts: 1- Flat 2- Irregular 3- Triangle
Flat corrections
In a Flat correction, the wavelengths are the same. After a 5-wave movement pattern, the market reaches wave A. Then the B wave that was formed reaches the High point of the previous A wave. Finally, the market reaches its previous low in wave C in wave A.
Can this corrective wave 4 that we are in pass below the Wave 1 high of $13686?
Thank you for the BTC update! 🙂
Ben, thank you very much! 🙏🏻
Tnx for update, keep doing good job. You explaining so nice 👍
Thank You 🙏
Fed will raise interest rates by tomorrow or something like that… That's not good for btc… I would say… Isn't it?
Ben it's time for Quant update. It has reach the target you gave.
Thanks
I have a buy order on ada at .38 1k usdt with 10x leverage, dot at 5.8 1k usdt 5x leverage and link at 4.8 1k usdt 5x leverage hope all these orders gets filled
Ben I hear the stress in your voice, you have been clear about your thoughts, if peeps get it wrong it’s not your problem, hell I bought back my .2 BTC earlier after listening to your blog but that’s my choice. I’m happy to have it and risk the down side, (no leverage, ever) the upside is much more. It’s to tricky to guess what’s gonna happen now, basically it’s on the fed mate. That’s imo why the market is crawling, the smart money is waiting
Thanks 👍
Wanted share with you Ben , I shilled you in the group I talked about below. Told them all your worth, but I can’t attach media so you’ll have to go check them out . 😘. Seriously man thanks a bunch your one of the best around
Yeah it’s really tough to know exactly. Thanks so much for your valuable updates, love the content.
Thanks Buddy have a good evening
It's over dude
I just buy BTC after hearing your thoughts.thanks for clearing some of the questions i couldn't answer on my own👍👍..i love the way how you explain the possibilities that may come thankyou
All thanks to 👏for the 2.7Btc develop Profit return l received Back to my wallet. l'll always shear your great testimony with Recommendation Of your Lucrative work..
All thanks to 👏for the 2.7Btc develop Profit return l received Back to my wallet. l'll always shear your great testimony with Recommendation Of your Lucrative work…
Thank you!
Thank you for al the videos. Could you do TA about $Mina
Any movement up this week will be short lived just market manipulation for quick profit and then boom everything will be down for good just like we saw nice green for last couple of weeks
Would be great of you accept some indicators and macro news into the analysis as well. They ARE highly relevant. And it does not look corrective at the daily timeframe
Thx for the update Ben
Thanks!
Thank you 🙏
Well at at 21k my long is getting crushed currently
If currently in a long would u hold or close below 21k?
Appreciate the update thank u
Why are you not addressing the 200 weekly average line?
When you say 60/40%, do you factor in macro events?
Thank you very much for the BTC update!
We have go down .. now up 🆙
I like your videos and appreciate your hard work. However, the overall news in the world isn't good: higher energy prices and cost of living, health crisis, ballooning debt, etc. Rising interest rates and upcoming official announcement of recession will cause fear. Crypto needs demand for the prices to rise. No money, no honey.
if altcoins prices drops lower does the bullrun pricetarget also come lowe dor those coins? how it works?
Its tough to know whats going to happen. Dont be stressed. Coin is not something everyone can say for sure. Stand strong for my friend
⛔️ ⚠️ WARNING, Attenzione , STOP ✋ listen to him , I just lost 2000 euro because of his thoughts, it made my calculating go wrong . ⚠️