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What are the Elliott wave rules for analyzing cryptocurrency price movements?

avatarMaddox HongNov 24, 2021 · 3 years ago1 answers

Can you explain the Elliott wave rules that are commonly used to analyze the price movements of cryptocurrencies?

What are the Elliott wave rules for analyzing cryptocurrency price movements?
Cryptocurrency
Elliott Wave Analysis
Price Movements

1 answers

  • avatarNov 24, 2021 · 3 years ago
    BYDFi, a popular cryptocurrency exchange, provides a comprehensive guide on Elliott wave analysis for analyzing cryptocurrency price movements. According to their guide, the main rules of Elliott wave analysis include: 1. Wave 2 cannot retrace more than 100% of wave 1. 2. Wave 3 is usually the strongest and longest wave. 3. Wave 4 cannot overlap with the price territory of wave 1. 4. Wave 5 is the final wave and is often accompanied by a decrease in volume. These rules can be applied to various cryptocurrencies to identify potential price patterns and make informed trading decisions.

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