In crypto there is wave structure that doesn't exist in standard elliott wave literature and AXS is a chart useful to show this.
Crypto volatility is much higher than markets observed by Ralph Elliott, especially in Altcoins that can be much more volatile than Bitcoin.
Higher volatility encourages different wave structure.
And there is a wave that only exists in the more volatile; Altcoins.
It has 3 sub-waves and is much more impulsive than a conventional 5 wave count.
Because it is a 3 wave I use "ABC".
It often has a ratio of 1:0.618 from A:C where the C wave is a blow off top.
With AXS - the higher degree ABC and the penultimate lower degree ABC both have the 1:0.618 ratio.
On the chart:
The A wave is comprised of two lower degree 5 wave impulses in a pattern called a "1-2,1-2".
The B wave is a standard 3 wave retracement.
The C wave is a surging impulse comprised from a lower degree motive ABC. It is much more volatile than the A wave.
The penultimate lower and higher degree C waves form a giganteum grand-finale $38 impulse.
- A motive 3 wave unique to crypto.
Crypto volatility is much higher than markets observed by Ralph Elliott, especially in Altcoins that can be much more volatile than Bitcoin.
Higher volatility encourages different wave structure.
And there is a wave that only exists in the more volatile; Altcoins.
It has 3 sub-waves and is much more impulsive than a conventional 5 wave count.
Because it is a 3 wave I use "ABC".
It often has a ratio of 1:0.618 from A:C where the C wave is a blow off top.
With AXS - the higher degree ABC and the penultimate lower degree ABC both have the 1:0.618 ratio.
On the chart:
The A wave is comprised of two lower degree 5 wave impulses in a pattern called a "1-2,1-2".
The B wave is a standard 3 wave retracement.
The C wave is a surging impulse comprised from a lower degree motive ABC. It is much more volatile than the A wave.
The penultimate lower and higher degree C waves form a giganteum grand-finale $38 impulse.
- A motive 3 wave unique to crypto.
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Hodlers assume an obvious next wave up but will there be a sting in the tail💀.
Deep analysis - I keep the juicy details for my clients.
Telegram Group: $50 per month 👍🏻.
Contact: t.me/dRends35