#Bitcoin 4h chart update! 05/20/19 9:30 pm EST

It feels like we're going nowhere fast anymore and that's how corrections are. As a beginner traders you might grow frustrated by this but you will soon learn that the nature of a correction is 2 fold, one is to correct the previous advance and second to shake out traders out of their positions before another impulse begins. As more advanced traders know, corrections are big opportunities where you get your ammunition ready, find your entries , snipe in the shadows and then enjoy the next run that is coming. What happens after is a bigger discussion, but once others realize the movement you are already profiting from it. Bitcoin is in a pause right now for about 6 days. I continue to monitor how we respond to the uprending channel and so far the middle line serves its purpose. The triangle count is very much valid until we make new highs and while above 7000. Between these 2 points we can spend time having a beer and chatting and waiting. But you can have a plan, and another plan if that plan fails, and so on. Bitcoin will be here and move however it pleases. The trend is up on higher frames and I will continue to respect that. It served me well over the past few months.