Understanding the Psychology of Elliott waves in ETHUSDT

25 апр. 2021 г.

In two or three posts, we are going to examine the ETHEREUM/TETHERUS currency pair. I counted this currency code in the weekly timeframe. One of the best ways to recognize the fifth wave from the third (most of the time) is a Regular negative divergence in one of the oscillators (especially the popular, functional, and very popular RSI oscillator). In this divergence, we see the occurrence of a Higher High compared to the previous High in the price chart, while a lower High is observed in the oscillator. Candlestically, at the end of an ascending (descending) trend, candlesticks with longer shadows and weaker bodies are seen. In addition, in most cases, the correction of the fourth wave will be short and transient, because most people have just realized the important event and believe (justify themselves) that the ascending (descending) trend of the desired symbol will continue and start buying (selling). ) And launch the fifth wave. Compare this analysis with the charts and candlesticks of the ETHUSDT trading symbol and its fourth short wave.
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