Bitcoin Master chart for the week 22

28 mai 2017

Bitcoin WEEK 22

I will in posts below go further into the Bitcoin analysis using the technical analysis toolbox.

Last week I stated covering the BTCUSD trade. I will ahead pay special attention to this pair.
You will therefore find a variety of analysis' here.

Feel Free to drop a comment or chart and let's nail the trade like we did last week when Wave 3 was elliott waved and made a Harmonic Bullish Gartley.
I will look at the Bitcoin trade from multiple timeframes and gather them all here down below.

Best to your trading
WALLSTScalper.com
René

28 mai 2017

Note

I'm looking for a Harmonic Bearish Gartley to play out monday. Bitcoin has gone into a wave 4 correction making a Elliott Wave triple zigzag down after friday's Bullish Gartley and a perfect 39.2 retrace from PRZ. See last week charts here:

The pattern is still in it's very early development. If making this pattern it could set up a triangle formation typical for a Elliott Wave 4. I will closely monitor Bitcoin all week long. Best to your trading

29 mai 2017

Note

Trade ongoing...trend showing more and more strength:

29 mai 2017

Note

Why has price paused? It has due to reaching a neckline of importance. A break above will bring price into a Air Pocket which normally "suck it" to the next resistance level.
But more interesting. The target for this IHSis heading for a double top.
I will in a later post focus on a bearish outcome, if neckline not taken out. Sofare the Bearish Gartley is on track:
Best to your trading
WSS
René

29 mai 2017

Note

Decisive breakout above neckline ..one more little hurdle to overcome though:

Break completely free of neckline area (Circle)

30 mai 2017

Note

There is a time for everything.. Bulls - Do you have what is takes. Trend lines and neckline IHS conjunct. Price at 50% retrace. Time to decide bulls!!

30 mai 2017

Note

Bulls got one bull(et) left in the chamber. But they REALLY have to muster some strength here. Formation looks bearish.

1 juin 2017

Note

I have taken some chips of here... air pocket (see IHS chart above) has been reached. I overall still trading this chart:

5 juin 2017

Note

I have taken the rest of the chips of the table after having reached an important handle. I see a possible reversal here, though not seeing any sign of it yet. Price could still more higher and make the target for the IHS as shown higher up. I have now though taken the biggest chunk of the meat, so satisfied with the gain obtained. Best to your trading.

5 juin 2017

Note

This chart will be terminated and a new will be posted when new trading opportunity is setting up. Best to your trading! WSS René