SUMMARY
Daytime price action has been forming a wedge pattern for white wave 4. Look at all the triangle patterns....most usually, a triangle is a wave 4 or a wave 2. The same for flag patterns, they are often wave 2 or wave 4. The MACD below is reaching oversold zone and the leading indicator (white) should curl up and cross above the red lagging indicator (green circle).
I do spot a small Head & Shoulders as shown below. However, the minimum price travel equates to the apex of the blue wedge formation. Price could meander laterally a bit as well...but I believe the $23k target is being very patient.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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