Crypto Contest November 7: Bitcoin

Bitcoin is trying to break out of the triangle pattern in the two-hour chart.

(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Bitcoin is just starting the wave five from the September 21 low. The wave one finished on the October 15, and the wave two correction ended on the October 19. The wave three advance finished on the November 3, and the wave four correction ended on the same day. If this wave count is correct, Bitcoin should be heading next towards the November 3 peak.

(Chart courtesy of Tradingview.com)
Zooming out in the daily chart, Bitcoin is currently most likely in the wave three (sub-wave iii). The wave one started on the August 2, and finished on the August 10. The wave two correction ended on the August 15.

(Chart courtesy of Tradingview.com)
In the weekly chart, I believe Bitcoin has completed waves one and two. The wave one started in the January 2015, and finished in the June 2016. The wave two correction ended on the August 2.

(Chart courtesy of Tradingview.com)
In the monthly chart, Bitcoin is currently most likely in the wave three (sub-wave iii). The wave one ended in the November 2013, and the wave two correction finished in the January 2015.

(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Bitcoin.

If you think this analysis is correct, upvote this post and upvote the comment "Bitcoin will takeout the November 3 peak".
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