First attempt at producing an Elliott Wave analysis of the Bitcoin Chart.
I began Wave 1 where the volume initially picked up at 19,277$.
-I have noticed that if I perform the percentage gains of the waves currently present, that Wave 3 is less than Wave 1. This would mean that Wave 5 will either have to be less than Wave 3 in order to validate the Elliott Wave, or that I have charted this incorrectly thus far.
Given that Wave 2 was a relatively sharp correction, we expect Wave 4 to be somewhat flat to alternate with the nature of Wave 2.
I am very, very new to this. If there are any obvious errors, please correct me so that I can learn to start adapting this information more accurately.
I began Wave 1 where the volume initially picked up at 19,277$.
-I have noticed that if I perform the percentage gains of the waves currently present, that Wave 3 is less than Wave 1. This would mean that Wave 5 will either have to be less than Wave 3 in order to validate the Elliott Wave, or that I have charted this incorrectly thus far.
Given that Wave 2 was a relatively sharp correction, we expect Wave 4 to be somewhat flat to alternate with the nature of Wave 2.
I am very, very new to this. If there are any obvious errors, please correct me so that I can learn to start adapting this information more accurately.