Bitcoin attacked the previous lows once more but found bids and jumped as i type to 7800 in what seems to be a 5 wave impulsive move on lower time frames. This could develop in several scenarios, a wave X higher then connecting another zigzag down , a wave 4 of lesser degree with a wave 5 to come that will lead to a flat, or a 1,2 1,2 scenario where the new lows would be quite agressive. We will stick with a potential completed C wave and the start of an ongoing D wave towards 8500 zone. The internals of these corrective waves can take many shapes so any trades have to be extremely well controlled and managed. A trader needs to be disciplined here and with a clear head and not get frustrated if a particular count doesn't come to fruition. Is either that or walk the dog until bitcoin correction schedule resolves itself. Trades will come and go and but with better chart and pattern understanding , the confidence increases and the new opportunities will shine in a much better light. A new video was posted today on you tube under "cryptocowboy" account where I dissect all bitcoin patterns in the current setup.