#Bitcoin daily chart update! 05/11/19 8:05 pm EST

Bitcoin did some waves this afternoon and broke decisively thru the top part of the rising price channel. We are getting a bit extended and while the price can defy gravity and keep moving higher , markets do require corrections in a healthy uptrend. I have adjusted my count to allow for a wave 4 pullback before a final 5th to complete a larger degree 3rd. Once the market gets exhausted the most likely scenario is a triangle in a wave 4. Against daily lows of 6440 i continue to look higher. In strong uptrends the corrections can be minimal and if stops abound we can squeeze even higher in a silly manner. Be mindful of that and don't take any calls for a correction as a signal to short. This market as long as it remains in this uprend should only be traded from the long size. My 2 cents.