#Bitcoin 4h chart update! 05/21/19 2:30 pm EST

Quiet on the bitcoin front with prices cornering themselves into the 8000 area. We should see a move here not far in the future that can start clarifying some things. If the proposed 4th wave correction is already over and a series of 1,2's have developed since the "flash crash" drop we should see a breakout above the 8250 highs that can carry prices either into a final 5th or even higher to keep working on the larger 3rd wave . The proposed triangle that started on the 05/17 journal update is still in effect until we take out the highs mentioned. A drop below 7600 but not below 7200 would indicate the C leg of the triangle is forming, while a drop below 7000 would bring the flat correction in focus. There are several ways this correction can unfold however and speculating on them all , would get your mind in a twist. I would rather keep observing and eliminating them as they get invalidated. Tends to keep my mind de-cluttered that way. Let's see what the asian active session bring to the table later today.