ELLIOTT WAVES - characteristics Waves for BITCOIN

Wave characteristics
1. "Market psyche" is almost completely bearish The news is still negative

2. The market is drifting away from recent, hard - work, profitable positions.
The price can roll back almost 100% of Wave 1, but not lower that is beginning .
Usually it is about 50-60 % of Wave 1, and it develops against the background of the dominant predominance of investors who prefer to fix profit.

3. There is a sharp growth of optimism among investors.
This is most powerful and longest wave of growth
(it can't be the shortest), at which prices accelerate and volumes increase. Classical 3
Wave exceeds Wave 1 at least in 1.618 times and may be even bigger.

4. Wave is often difficult to identify. Usually it rolls back no more then 38% of Wave 3.
It's depth and duration, as a mile, is not big.
Wave 4 should not fall below the level of Wave 2.

5. Wave 5 is usually much less dynamic, than the 3 Wave.
During the 5 Wave, many confirming technical indicators begin to fall behind the price movement.
Also at this time, some oscillators start to show negative divergence, warning that the
market is moving to the top.

Trade active

Trade active