Unfortunately markets show 6% futures premium and extreme bullish sentiment. Rally ends on a euphoric spike as we approach previous highs. Very similar to the $1000 price point during the $1200 bubble.
Dump fractals suggest 2200 bottom with 1900 capitulation. As such I suggest target should be 2292.
Of course, stop loss should this idea be proven false. At 3022. But I'm rarely wrong. I'm a genius after all.
Trade closed: stop reached:
Price ended up following the pattern and I did end up shorting this. Took some losses from the too-tight stop though.
Although I do think you are a genius I disagree and think we will see a wave 5 coming to 600 range - 3 day still has room to grow 12 hr just crossing from oversold
futures premiums will be higher as Satoshi mentioned during bull trend
Premiums can be higher now that we are in a bull market. Premiums reached a cap in 2015 previously based on bearish sentiment. I think we've formed a cup and part of a handle, we should see a new 2015 high within two weeks, ~4000CNY.