#Bitcoin 4h chart update! 06/12/19 9:35 pm EST

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
A very pathetic rise in bitcoin takes us to 8170, and it is not convincing me of anything. We seem to want to climb and complete the D leg of the triangle but is more like pulling teeth if you ask me. Is this the calm before the storm, maybe , but the internals of a triangle are always messy and twisted. At least one of the legs becomes complex and keeps you guessing. I am not discounting a drop to complete a larger C but we need to get below 7700 to gain traction. So more patience ahead for this to get resolved. A quick glance at the daily candles shows a nice break above the cluster of the last few days and i am definitely curious how this will close. My view remains bullish once one of these 3 scenarios complete. Neutral stance for now.
New BITCOIN VIDEO today on my you tube channel under cryptocowboy account, where i run thru the internals of the wave counts.
I have opened 3 telegram channels focused on crypto, forex and commodities , where I will be updating more charts and more frequent analysis along with market commentary. Since i cannot post links here , if you want to join you can go to telegram and search for "cowboy forex markets" , "cowboy crypto markets" and "cowboy commodities markets" . They are free and we will focus only on elliot wave learning and discussions.


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