#Bitcoin 4h chart update! 05/30/19 7:24 am EST

Bitcoin seems to be building the early stages of next rally higher with the 8450 lows as a potential completed corrective pattern. We seem to have broken thru the price channel but not in a convincing manner yet. We do have some other markets that are taking the lead so it should just be a matter of time before bitcoin joins the party. Once we pass 8920 we should be out of the woods, until then we could morph into something else, but the longer this correction goes the worse it will look for the bulls, because the wave proportions will start to get out of hand. So bitcoin needs to get after it . Below 8450 things could get ugly but the trend remains up so until proven otherwise I will continue to look higher.