THE VULCAN REPORT
Review of # BITCOIN (# BITCOIN)
as of Wednesday, June 1, 2016
Today's Price Action
Change 12.3400 (2.35%) prices closed higher than they opened. with strong Bids going into the close.
PulseScan Swing Vix
Swing Vix: 15.43
The Market Pulse is positive since it is trading above its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of 0 period(s) ago.This means that positive momentum has entered the market. Expect sideways to higher prices within the next 3-5 days
The Trend Channel is UP! (i.e. "Positive Swing Vix") This means that positive momentum is entering the market. Expect sideways to higher prices within the next 3-5 days
The Swing Vix is not currently in a topping (above 39) or bottoming (below -39) range.
A buy or sell signal is generated when the Swing Vix moves out of an overbought/oversold area.
*The last signal was a Over-Sold Buy 56 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.The security price has set a new 14-period high while the Swing Vix has not. This is a bearish divergence. Since the PulseScan leads the market 3-5 days out we will wait to see if downside pressure develops.
*Since the last Swing Vix signal, # BITCOIN's price has been unchanged, and has ranged from a high of 546.8500 to a low of 519.9300.
MARKET TREND - Currently the TREND is -The DownTrend is still entact with prices holding below trendline resistance at- 583.9400.
TREND STRENGTH - ,
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. - 583.9400
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 373.7923
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 457.9315
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 462.7683
Today's Rally pushed prices on the close above the short term trendline support
INTRADAY PRICE PROJECTIONS
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 471.9040
PulseWave BreakOut SUPPORT - 431.9610
On 6/1/2016, # BITCOIN closed above the upper band by 13.3%.
General Advice Disclosure: Please note that the advice contained herein is general advice and is for the purposes of education only. The risk of loss in trading futures contracts, commodity options, stocks, stock options and forex currencies can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You are reminded that past performance is no guarantee or reliable indication of future results. It has not been prepared taking into account your particular investment objectives, financial situation and particular needs.You should therefore assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. You should do this before making an investment decision based on this general advice. You can either make the assessment yourself or seek the help of a professional adviser.
This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents.
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