Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

NewsBTC 2022-08-24 15:12:35

WATCH: Daily Technical Analysis August 24, 2022: Total Crypto Market Cap (TOTAL)

In this episode of NewsBTC’s all-new daily technical analysis videos, we are looking at the total crypto market cap using Elliott Wave Theory. Specifically, this episode looks at where the current corrective phase may be along with where the cryptocurrency market is in its overall bull cycle. Take a look at the video below. VIDEO: Total Crypto Market Cap Analysis (TOTAL): August 24, 2022 Looking at the total cryptocurrency weekly chart, we examine the different types of corrections the crypto market might be in according to common Elliott Wave corrective patterns. Elliott Wave Theory was developed in the 1930s by Ralph Nelson Elliott and is based on the idea that markets move in specific patterns called waves. Prices move upward in a five-wave pattern called a motive wave where each odd numbered wave moves with the primary trend. Even numbered waves correct against the primary trend. These patterns appear on various timeframes and are what power primary, secondary, and minor trends. Related Reading: WATCH: Crypto Technical Analysis August 23, 2022: Ethereum Versus Bitcoin (ETHBTC) Double-Three Complex Zig-Zag Correction Could Be Completed We first look at the recent corrective phase, starting with the late 2021 higher high. Typically a higher high suggests an uptrend should continue. However, certain Elliott Wave corrective patterns can be incredibly deceptive. The corrective phase may or may not be over yet. There are t...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.