#Bitcoin #ElliottWave

Elliott Waves are the heartbeat of market sentiment, pulsating with the rhythm of human psychology.

https://youtu.be/8G-fZKlVJtc?si=bVH3UAQ8MLJ2DrKv

The Elliott Wave Theory is a technical analysis of price patterns related to changes in investor sentiment and psychology. 

The theory identifies impulse waves and corrective waves, which are recurring fractal wave patterns that form larger five-wave and three-wave structures. 

The underlying 5-3 pattern remains constant, though the time span of each wave may vary. 

Key principles of the Elliott Wave Theory 

Five waves move in the direction of the main trend, followed by three waves in a correction (totaling a 5-3 move). This 5-3 move then becomes two subdivisions of the next higher wave move.

Corrective waves retrace impulse waves in Fibonacci proportions of 38%, 50%, and 62%. Impulse waves within a larger impulse sequence relate to each other in Fibonacci proportion.

Elliott waves are the basic building block of the Wave Principle. The Wave Principle is Ralph Nelson Elliott's discovery that social, or crowd, behavior trends and reverses in recognizable patterns.