#Bitcoin 4h chart update! 06/26/19 10:45 pm EST
A tumultuous day in the life of bitcoin. Highs near 14k, quick 2k selloff , strong bounce and consolidation. The questions in everyone's mind are "is the rise over for a while? are we retracing now?" . It is very possible and with the strong run we had and the fib levels reached on extensions (see previous post) , it wouldn't come as a surprise. I am not yet convinced 100% that we have found a top. My first reaction here is to continue to respect the trend and look for corrections to join. Below 11,400 and more likely 10,600 i would begin to start considering a top is in place and look for corrections to continue as a wave 4 towards 8,200 or as a wave 2 towards 6,000. But there is a lot of convincing to do until that happens. A climb above 13,200 will increase my confidence that new highs are coming. To resume, if bitcoin is not continuing the decline in a healthy manner by posting solid impulse legs , this quick drop might be forgotten just like the ones before were.
I remind you , 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.
I remind you , 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.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.