#Bitcoin 4h chart update! 07/30/19 7:28 am EST

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
402 7
BItcoin spent the last few days trading sideways with a slight bearish tone, but unable to take 9060 and make new lows just yet. If this is indeed the wave 2 low of larger 4, the market needs to get moving and be aggressive towards topisde , otherwise it will be vulnerable and switch towards the alternate Y leg of the larger wxy of 4. A climb above 10,200 will give bulls the needed confidence , while 11,100 is key for more upside development. On the other hand, a break of 9060 can quickly take this market towards 7500. This month expires tomorrow, so lets see if the grind continues into august as well, we're slowly eating away the correction time needed.
Our 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.
Very good 12345 placement.
Great analysis dude!
+1 Reply
ferGOD ferGOD
Same count as mine. Second wave is quite long, hence I think WXY is more likely.
+1 Reply
rafbie rafbie
If we get another abc down, that would mean ending diagonal in C of Y.
Agree the bullish and bearish option. I think when you say "If this is indeed the wave 2 low of larger 4" you mean "If this is indeed the wave 2 low of larger 5". Great work !!!
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great count my man, keep it up
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