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Neo Wave

Let's learn & Apply Elliott Wave Rules on chart: BTCUSD BitcoinHello Friends, Welcome to RK_Chaarts, Friends, Today we are going to learn 3 Rules of the Elliott Wave theory, there are three principles and some patterns. Impulses move in a 1-2-3-4-5 pattern, either as an impulse or a motive wave. However, within impulses, there are three rules: Rule No 1: Wave 2 will never retrace more than 100% of Wave 1. Rule No 2: Wave 3 will never be the shortest among Waves 1, 3, and 5; it can be the largest, but never the smallest. Rule No 3: Wave 4 cannot overlap Wave 1, except in diagonals or triangles; in impulses, it cannot overlap. We've checked these three rules and marked them with separate tick marks on the chart with different colors, making them clearly visible. You can review the chart and verify these rules yourself, learning how wave principles are applied and checked. We've explained all this through a drawing on the chart, so we won't elaborate further here. Moving forward, let's analyze what the wave theory suggests about the current market trend. This entire analysis is shared for Educational purposes only. I hope you'll consider this educational post as a learning resource, Definitely, I encourage you to review the chart as an image or picture to better understand the concepts we've worked hard to explain. Our effort will be successful if you gain a deeper understanding and learn something new from this post. If you find this helpful and informative, our hard work will have paid off. Please keep this in mind as you review the material. Now let's explore how wave counts within wave counts, or lower degrees within higher degrees, unfold through complete wave theory patterns and following theory Rules all the times. Let's take a closer look at the Bitcoin chart we've analyzed using Elliott Waves. From this perspective, it's clear that the Intermediate Degree Wave (2) concluded around June 23rd. After this, we observe that the internal wave counts of the lower degree, specifically Wave 1-2-3 (in red) have completed their cycle of Minor degree. Furthermore, Red Wave 4 of same Minor degree has been moving sideways, characterized by a downward trend. Notably, the fall of Red Wave 4 is classified as a Minor Degree movement. Interestingly, this downward movement appears to have terminated in an even lower degree, namely the Minute Degree, which we've marked in black as ((w))-((x))-((y))-((xx))-((z)) that means Wave 4 of Minor degree (in Red) is complete. Given that Red Wave 4 Minor has reached its conclusion, it's highly plausible that Wave 5 has initiated. This development suggests that Bitcoin is poised to make a significant move. Moving on to the analysis, we observe that: - Rule 1: Wave 2 has not retraced more than 100% of Wave 1, so this rule is intact. - Rule 2: Wave 3 is not the shortest among Waves 1, 3, and 5, so this rule is also valid. - Rule 3: Wave 4 does not overlap Wave 1, so this rule is also satisfied. Bitcoin is all set to shake things up! We eagerly anticipate further rallies in the market. This post is shared purely for educational purpose & it’s Not a trading advice. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Chaarts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Chaarts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
BITSTAMP:BTCUSDEducation
by RK_Chaarts
39
ETH Looks Bearish (3D)Ethereum approached the weekly trendline and experienced a correction. It seems likely that we may see one more push upward to create a false bullish sentiment on this coin. There is even a possibility of a fake breakout above the descending trendline. However, before any major move, a significant correction toward the green zone appears likely | after which the main bullish move is expected to occur. On higher timeframes, this is currently our outlook on Ethereum. A daily candle closing above or below the invalidation levels would negate the current buy or sell bias. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
by behdark
2
B3 Analysis (12H)From the point where the red arrow is placed on the chart, the B3 correction has started. It appears we have an expanding/diagonal/symmetrical triangle, and wave E now seems to be complete. As long as the green zone holds, the price could move toward the red box, which is a swap zone. A daily candle closing below the invalidation level will invalidate this analysis. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
by behdark
1
ARC Buy/Lonf Setup (1D)The ARC symbol, after completing a triangle and undergoing significant price and time correction, is approaching a strong and important origin. It is expected that upon reaching the green zone, it will move toward the specified targets. Since trading this symbol carries its own risks, make sure to practice proper risk management. The targets are marked on the chart. A daily candle closing below the invalidation level will invalidate this analysis. For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
GOAT Looks Bullish (12H)It seems that a wave A of a higher-degree structure has completed, and the price is forming a triangle at the bottom, preparing for an upward movement in the form of either a wave B or a new impulse wave. Since this wave belongs to a higher degree, we expect the upcoming bullish wave to take time and show a significant upward retracement. Try to avoid entering during pumps, and instead focus on entries during price corrections. As long as the green zone holds, the price has the potential to move upward. A daily candle closing below the invalidation level will invalidate this outlook. For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
Long
by behdark
ALCH Looks Bearish (8H)ALCH is one of the altcoins that began its bullish rally earlier than others. From the point where we placed the green arrow on the chart, it appears that an ABC correction has completed. As long as the red box is maintained, price may move toward the FVG zone. Targets are marked on the chart. Additionally, a liquidity pool is forming below the candles, which is expected to be swept soon A daily candle closing above the invalidation level would invalidate this bearish outlook. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
Short
by behdark
BTC DOMINANCE Update (1D)It seems that Bitcoin dominance may soon experience upward corrections, as it has broken through several support zones to the downside without any reaction and is now close to another support area. Usually, when the market maker pushes the price through multiple supports without a reaction, the price can retrace from a nearby support. The price may soon move to complete wave G. We have considered two different scenarios for the fluctuations of this index. However, note that this chart is a derivative chart, and the fluctuations may not follow the schematic exactly, but this analysis gives us a good view of the support and resistance zones and the probable path. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
CRYPTOCAP:BTC.D
by behdark
4