ScottCarney

ScottCarney

5-0 patterns typically experience a retracement back to the 88.6% of the prior leg = pullbk to 2100. RSI now confirmed@61.8% @ 2650. Downtrend intact <2700. Remember Bullish Bat @ 1900 still the next support target for a reversal more than reaction.

ScottCarney

BitMonster just hit the BIG 61.8% of the 5-0 pattern I mentioned a few days ago. If the downtrend is in earnest, it resumes here @ 2650 for MINIMUM retracement @ 2100 but the Bullish Bat @ 1900 still remains. THIS IS A TRADE NOT A CONDEMNATION OF CRYPTOFX! Harmonics are working quite well in this market. Look for the 1HR RSI to confirm after an impulse test...

ScottCarney

After the initial drop under 2350 initial target, Bitcoin now setting up a Bearish 5-0 @ the 2550-2600 area. Originally released in my HTVol2 book, the 5-0 is a HARMONIC CONTINUATION PATTERN that represents an excellent zone to enter within the predominant trend. Minimum target for entry is 2300 but 1900 = BullishBat. STAY HARMONIC!

ScottCarney

Quick follow up. Stay short and look to Deep Crab PRZ @ 15 then we see if this is like FB after it tanked post-ipo. There is a long opportunity here but 20% lower. Update to come...

ScottCarney

Bitcoin Callouts! ...Now Bullish Bat I have posted callouts on my series of posts on this CryptoMONSTER from the past few weeks. I have listed every post - please review because the harmonic patterns with ratios are undeniable. NOW = Bullish Bat @ 1950 for a 4hour trade setup. Wait until UNDER 2000 for the opportunity then we see. Monitor RSI as well! More...

ScottCarney

In my HTVol2 book, I outlined what HARMONIC DIVERGENCE and CONFIRMATION are all about. Bitcoin completed a 113 Harmonic RSI BAMM Divergence and has put in a top for now. I expect a serious retest of lows under 2350 and more BEFORE any uptrend can resume. All markets have their limits! RESPECT HARMONIC DIVERGENCE in cases like these.

ScottCarney

A few weeks back, I took a look @SNAP with a Bullish Deep Crab @ $15. SNAP now sinkn' to hit the PRZ. Still short until we hit the target!

ScottCarney

A followup from last week - Bitcoin has been quite harmonic, reaching for the 88.6 @ 2660 after triggering the harmonic breakout at 2320. DAILY 3.14@ 3200 LIKELY but trader in me says take some profits here folks and stay tuned!

ScottCarney

After a pullback/pause from the two retracement patterns that followed last week's action, the 4h is triggering a Bullish BAMM Breakout that takes it to the 88.6@2680. Trigger off the consolidation here@2320 level where prior resistance is becoming support. I'm impressed.

ScottCarney

As a followup from earlier, we have now retested the aforementioned patterns with PRZ between 2280-2290 and an exact ABCD @ 2320. (I incorrectly mentioned 2310 in original post.) Regardless, the Terminal Bar traded as high as 2330 as the price action hit the PRZ. Remember, harmonic patterns have two reversal classifications : Type-I = Reaction to 382/618...

ScottCarney Updated 

After reviewing various intervals, I have found a number of distinct harmonic patterns that provide clear structural reactions. After last week's 3.14 reversal, the price has formed successive harmonic patterns - Bullish AB=CD@1880, Bearish Gartley @2240 and now a Bearish Bat @ 2280 on the retest. It looks like another bearish execution at these levels. The...

ScottCarney

I started watching Bitcoin nearly a year ago. I have watched harmonic patterns and related measures pinpoint price levels in this market with precision. Today's 3.14 bearish extension was one example of a larger understanding of HARMONICS at work in even the crypto-fx mkt. I updated the original post a few times today stating to cover 1/2 of the original 2730...

ScottCarney

BITCOIN has worked remarkably well today! Don't mess around = Utilize the 618target@2290 to secure +400 on 1/2 NOW! Ride the rest to 2080. Move stop loss on all to +$350 = 2370 Bitcoin IS Harmonic!

ScottCarney

BITCOIN now down nearly $300 from original post! The 3.14 Pi resistance firmly intact. The trader in me says cover 1/2 @ 2100 and adjust stop loss to +$60. ...more to come

ScottCarney

Here is a HARMONIC SECRET: Always act on Pi projections! When you hit a 3.14 measured level in any parabolic move, the counter move is near. Mr. Bit is on an insane run and now hitting a 3.14 extension on the hourly chat. I don't care how great the future might be for King Crypto, as traders we must respect a measured framework. For now, I am RESPECTING the 3.14...

ScottCarney

Microsoft has rallied steadily for the past year and has offered few pullbacks. The Bullish AB=CD @ 67 on the daily chart has a Complex RSI structure that triggered confirmation of a trend continuation after the recent pause. In markets like these, the trend is more important than the pattern! MSFT a perfect candidate to access NAZ10 exposure for next 12 months....

ScottCarney

I posted a DAILY Deep Crab that suggest SNAP needs a serious retracement after its IPO before considering accumulation. The 60-min Bearish 5-0 in the CD leg has also lined up with an important COMPLEX RSI formation. As I outlined in myVOL2 book, these indicator formations are typically retested. THIS IS THE PROPER HARMONIC EXPECTATION! Execute SNAP off the...

ScottCarney

SNAP not to be considered until this Deep Crab completes @ 15.58.