$BTCUSD in a Harmonic Bearish Butterfly | Technical Analysis / Market Report Update #4, May 19 2017
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BTCUSD in a Harmonic Bearish Butterfly
The Pattern is not yet completed but building divergens. It has paused at the 1.618 ext of the B to C leg for making an Elliott wave 4 before the pattern should complete at PRZ. Trade with patience!! The cryptos are very bullish right now due to having an edgy market ruled by fake news.
Action: Look for MA to roll over/confirmation before going short.
PRZ at: 1,971/72
Target 1: 1,830.6
Target 2: 1,786.8
Best to your trading!
René
WALLSTScalper.com