#Bitcoin 4h update! 05/16/19 4:30 pm EST

A bit more sideways movement as bitcoin is catching its footing after the "free solo" ascent. There is possibly a bit more to go just to stick the flag to the top and take a few pictures. I would be more confident in that scenario once 8185 gets taken out. If this is indeed a smaller wave 4 the geometry and shape of this one should be sideways with minimal disruption . We are dipping our toes into the secondary ascending channel and a drop below 7450 opens the door towards 7000. That would be perfectly ok with me and should not disrupt the uptrend much. I would assume heavy buy orders are scattered all the way down there as trend followers want better prices. Will see if the market will give us that but i won't argue if it doesn't. To summarize the market feels tired but I won't take that as a sign of weakness , the trend is up, watch your downside critical levels and enjoy the ride.