Xcel Token

The underlying theory behind the Elliott wave principle is based around how price moves, which typically is not in a straight line, but in a series of waves. A great analogy would be one that compares an ocean tide coming in as the water rises, and flowing out as the water recedes into the sand below. Within any financial market (including cryptocurrency), every action creates an equal and opposite reaction. When price movement moves up, a contrary downward movement must follow. Price action within any financial marketplace is often divided into trends and corrections (sideways movement). Upward or downward price action will showcase the direction of a trend, while corrections will always move against the trend. These repeating patterns have been shown to occur within all financial marketplaces since the dawn of time. A man by the name of Ralph Nelson Elliott, first discovered these repeating patterns, known as impulsive and corrective waves. He noticed that these impulsi...

In the previous blog we went through all the markers that you need to remember while you are technically analysing the market. In this blog we will be going look at two types of Technical Analysis. Read on to find out more. Elliott Wave Analysis The  Elliott Wave principle  is a form of technical analysis that cryptocurrency traders use to analyse market cycles and forecast market trends by identifying extremes in investor psychology, highs and low in prices and other collective factors. Elliott Wave traders believe that markets are affected by collective investor psychology, or crowd psychology, and that it moves between optimism and pessimism in natural sequences. It seems to be a discipline suited for cryptocurrency traders because, at this time, they are being solely driven by investor psychology since there are no true underlying fundamentals backing its price rise other than aggressive buying due to limited supply. The key to success when using Ell...