Bitcoin price have been traded within a symmetrical triangle for the past 3 days and it seems that it is finally on the verge of a break to the downside after an unsuccessful strugglish rally hours ago met with an unusually high amount of sellers.. If successful, it will open up access to $356 USD/2207 CNY or even lower.
Stop loss/short area: 2427 CNY/ 391 USD (Bitstamp's last hour low was 390 USD)
Disagreed, you made a crucial mistake using this impulse pattern: it's shifted to the leftin order to fit the current wave, leading to the false impression it'd still have time to decline which is hardly the case -- only 3 hours left, and it definitely won't make the leg down in this short timeframe.
Bitstamp's 4H chart