Price of bitcoin is bouncing in the overnight session but the overall advance is not giving me enough confidence to say we are approaching the end of the correction. I think there is still more time to kill on the clock and bitcoin will do its best to fool us repeatedly. I have adjusted the corrective channel to contain prices and will continue to remain flexible on the ebbs and flows. I will remind you in this type of price action even as an Elliot wave practitioner you will be forced to adjust your wave count several times as the market alternates between 3 waves , 5 waves, connective waves and so on . Things will become more clear as data develops and we should be able to assign labels more accurately. Until then is best to watch and be flexible and not worry if you miss any of this short swings for it is better to trade in clear counts and be with the predominant trend.
Check my Videos on you tube under "cryptocowboy" account, for a more detailed explanation of where we are in the wave counts.
I remind you , Our telegram channel "cowboy crypto markets" 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.
Check my Videos on you tube under "cryptocowboy" account, for a more detailed explanation of where we are in the wave counts.
I remind you , Our telegram channel "cowboy crypto markets" 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.