#Bitcoin 4h chart update ! 5/1/19 1:50 pm EST

Bitcoin bid tone continues as the new month begins and at least on bitfinex charts we are approaching the previous highs at 5690. Let's see if we get renewed buying interest now that that level is close to being attacked. The subdivisions of the move since 5060 lows can be counted in several ways so i won't attempt to do it until a clearer pattern emerges. A 3 wave move up should result in a selloff at nearby levels or after the highs are taken, while a clear impulse up will make the count into a 1,2 . Best to wait for now and let the market show its hand. 5360 should be the downside level to provide interest and near term support.