THE VULCAN REPORT
Review of # BITCOIN (# BITCOIN)
as of Tuesday, June 21, 2016
Today's Price Action
Change -67.2300 (-8.80%) prices closed lower than they opened. with weak Bids going into the close.
PulseScan Swing Vix
Swing Vix: 25.33
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 3 period(s) ago.
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
CRASH ALERT - (Short-term Market Top) Possible Selloff is likely do to weak market pulse projectionsThe 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 59 period(s) Ago.
The Swing Vix has just reached its highest value in the last 14 period(s). This is bullish.The Swing Vix has set a new 14-period high while the security price has not. This is a bullish divergence. Since the PulseScan leads the market 3-5 days out We will wait to see if an upside breakout occurs.
*Since the last Swing Vix signal, # BITCOIN's price has increased 21.37% , and has ranged from a high of 781.3100 to a low of 508.1200.
MARKET TREND - Currently the TREND is VERY-BULLISH - Heavy Accumulation.
TREND STRENGTH - WEAK - RANGE BOUND (Prices have ceased trending and have become consolidated at this time) The market has put in a short term top. This means that the bulls are liquidating long positions thus taking some profit off the table.,
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 583.9400
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 491.8505
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 586.8102
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 570.1140
INTRADAY PRICE PROJECTIONS
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 471.9040
PulseWave BreakOut SUPPORT - 431.9610
MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 2,329.7900
Long term Trend Line resistance is currently at - 1,165.8900
Long term Trend Line support is currently at - 583.9400
MONTHLY PRICE PROJECTIONS
BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET = 5,821.4902
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET = 4,657.5903
BUBBLE PHASE I - (24-36mo) PRICE TARGET = 3,493.6899
On 6/21/2016, # BITCOIN closed above the upper band by 0.8%.
This combined with the steep uptrend suggests that the upward trend in prices has a good chance of continuing. However, a short-term pull-back inside the bands is likely.
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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