#Bitcoin 4h chart update! 08/21/19 9:12 pm EST

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Nice response from bitcoin after the completed run towards 11,000, in line with the view of a deeper correction to satisfy the larger pattern criteria. A break of 9500 lows should trigger an acceleration towards the bottom of the corrective price channel around 8500. From there on, we will be looking for reactions and signs of a start of a new bull trend above 13,800 highs. Near term , a climb above 10,550 would start to have me worried that something else is going on and will need to rethink the count. Go back and study the updates since Aug 4th to get a sense of the projected paths and the thought process behind the moves. This is where elliot wave is so powerful in providing market context and a road map to take your trading to the next level.

JOIN ME on My telegram channel "COWBOY CRYPTO MARKETS" and our crypto room "COWBOY CRYPTO ROOM" 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. Just go telegram and search in the search-bar the mentioned names. The traders there have been learning the ropes of this methodology very quickly by being exposed to regular updates and explanations of different wave counts !
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