Ralph Nelson Elliott developed Elliott Wave Theory in the 1930s to describe repeatable patterns in the financial markets. This theory can be applied to crypto markets, as they exhibit similar emotional and psychological back-and-forth. Elliott Wave Theory consists of five waves in the direction of the trend, followed by a three-wave countertrend move. The theory can help traders identify impulse and diagonal waves, as well as determine the reliability of the patterns. Elliott Wave analysis can be combined with Fibonacci retracement levels for more accurate predictions. Additionally, understanding the three corrective patterns and the harmony in geometry can provide further insights into the market behavior.