BTC update 02.06.18

Good news everyone! This is really easy right now.

If 7350$ is not breached, we have a new uptrend. This level is important now. It cannot be wave 2, if it is breached though. Then we have to revaluate. But until then, this is the count:

This is a clear stop level for traders, because it is the invalidation point.

Notice the overshooting wave b? This often occurs in a running flat pattern like this.

The right shoulder of this inverse Head and Shoulders pattern (iSHS) is done now. A yellow wave 2 bounce fits the picture perfectly before this pattern is triggered in yellow wave 3.

image (5).png
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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
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