#Bitcoin 4h chart update! 06/26/19 10:45 pm EST

A tumultuous day in the life of bitcoin. Highs near 14k, quick 2k selloff , strong bounce and consolidation. The questions in everyone's mind are "is the rise over for a while? are we retracing now?" . It is very possible and with the strong run we had and the fib levels reached on extensions (see previous post) , it wouldn't come as a surprise. I am not yet convinced 100% that we have found a top. My first reaction here is to continue to respect the trend and look for corrections to join. Below 11,400 and more likely 10,600 i would begin to start considering a top is in place and look for corrections to continue as a wave 4 towards 8,200 or as a wave 2 towards 6,000. But there is a lot of convincing to do until that happens. A climb above 13,200 will increase my confidence that new highs are coming. To resume, if bitcoin is not continuing the decline in a healthy manner by posting solid impulse legs , this quick drop might be forgotten just like the ones before were.
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.