#Bitcoin 4h chart update! 05/29/19 7:30 am EST

Bitcoin had a drop overnight into 8450 and managed to hold above the 8360 support. If this will be the beginning of a new leg higher remains to be seen but the corrective nature of price since may 26th it's pretty clear. I am attempting to count this correction as a wave 2 with the time lapse on it, which means that a wave 3 ahead would have to be strong and swift. The market needs to get going after that and convince me at once. Pulling back into yet another leg lower will lengthen this correction and eat away at my confidence in higher prices. 9200 would be a nice upside target, but I won't get upset if we extend even higher.