Bitcoin Master chart for the week 22

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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
Comment: 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
Comment: Trade ongoing...trend showing more and more strength:
Comment: 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
Comment: Decisive breakout above neckline more little hurdle to overcome though:
Break completely free of neckline area (Circle)
Comment: 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!!
Comment: Bulls got one bull(et) left in the chamber. But they REALLY have to muster some strength here. Formation looks bearish.
Comment: I have taken some chips of here... air pocket (see IHS chart above) has been reached. I overall still trading this chart:
Comment: 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.
Comment: This chart will be terminated and a new will be posted when new trading opportunity is setting up. Best to your trading! WSS René


We had a lot of bearish signals last mounth with noticeable bearish figures but price still headed north during may;
, wait and see
Being that ETH and BTC are locked in step dates and times of big moves I would humbly suggest that seeing today's double top reached on ETH that they are both now set up ready for the next big move. Most likely within the next few hours. Just my opinion though.
CoinedByCrypto graham.edwards84
@graham.edwards84, Your own chart from May 29 showing a wedge tells the story well.... The reason why I see the bearish Gartley being possible. As you probably already know - price normally break down before the apax. But several patterns in play right now. Some have to give way.
+1 Reply
nice channel shown , nice additional butterflys , nice H&S
all together
@G13Man, Thank you very much!
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