Bitcoin finally gave up to the pressure that was building in the triangle for the past couple of months. The break of 9300 proved fatal to the bullish count. One of my alternate counts was showing the possibility of a break lower to complete the larger wxy correction towards 7500 levels. If those exact levels will be reached remains to be seen, but we are now on the lookout for evidence that the correction has run its course and we are about to embark on the next leg higher in bitcoin. The first signs will come on a climb above 9300 level but we really need above 11,ooo to get more excited. Like I mentioned in the last update, the price is king and it will tell us slowly if the lows have been reached. Until then let's give this market room to develop and exhaust itself to the downside. It might have already happened.
I talk more about all this on my new youtube video posted today at youtu.be/o0cNi26RDuM
For more detailed charts, discussions and Elliot Wave learning , visit us at
t.me/cowboycryptomarkets
t.me/cowboycryptomarketsroom
I talk more about all this on my new youtube video posted today at youtu.be/o0cNi26RDuM
For more detailed charts, discussions and Elliot Wave learning , visit us at
t.me/cowboycryptomarkets
t.me/cowboycryptomarketsroom
