#Bitcoin 4h chart update! 05/23/19 7:58 am EST

The sideways story continues and the levels mentioned previously continue to hold. We approached the bottom line of the rising price channel overnight and bounced. If this was the C leg of the triangle remains to be seen and a drop below 7200 would look suspicious in keeping the triangle count alive. Each leg should be getting smaller within a few more days of development. The story remains that of a corrective price action with a consecutive push higher once complete. 8265 and 6990 remain the solid levels to watch , while 7249 is at work in the near future. Again, not much to do until this market tears down camp and embarks onto the next adventure. Keep an open mind set with the corrective moves as they can morph and re-morph to keep you guessing.