Long

#Bitcoin 4h chart update! 06/25/19 6:40 pm EST

Bitcoin is making new highs and showing everyone that wants to see, what a healthy uptrend looks like in real time. Bitcoin bottomed in Dec 2018 and we are now 6 months later at almost 12k. Nothing goes up forever and nothing goes down forever ( unless you're Lehman Brothers, LTCM capital, Enron or others) , so at some point we will enter a correction period. When that happens we don't know and its ok if we don't, but bitcoin can actually do an extended 5th wave that exceeds that length of 3 by far. That's why i am not in a hurry to call for a top. Will let this run its course and once its done the signal will be pretty clear. Until then, like i said before, keep your stops below key levels and enjoy the ride. 10,900 is the nearest swing low on this morning's drop and then the wave 4 area at 10,300. Topside we have some fib projections between 12,200 -400 then scattered until 13k. When you make new highs the top can be anywhere and it can take you by surprise. A quick glimpse at the shorts tells me that they're slowly giving up in fighting this market. If they're done then maybe we can sell off without them on board. Markets do that to us.
Our telegram channel "cowboy crypto markets" discusses more detailed updates and lower time frame charts. If you want to learn more about elliot wave , it's a good place to get live market info and familiarize yourself with the wave counting process.

cryptcowboy

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