BITCOIN Elliot Wave 5

Here's a daily chart of BITCOIN. Currently, we are consolidating in wave 4 of the Elliot Wave. Typically in wave 4, you would see an ABCDE pattern with the break of the triangle to complete wave 5, which in this case would be at 27851.xx level. Also on the chart, you should see the monthly candlestick painted in the background. If you ever use a period separator on your chart, you should be able to predict how the candlestick will play out by looking at price action/pattern in a lower time frame: Here are the different time frame that I look at to anticipate the movement of the market

Daily price action = Monthly candlestick
4 Hour price action = Weekly candlestick
1 Hour price action = Daily candlestick

Happy Trading folks!

Cheers!