Light at the end of the tunnel

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
Seeing some great potential here after a few months of sideways & range-bound movement.
Breaking the red parallel lines will be pretty significant milestone for Bitcoin             to escape the bear market since the collapse of the ill-fated Mt.Gox exchange.

Watch these level: 1380CNY & 1530 CNY             .

If GBTC's listing on OTC             market, 25 million itBit funding (and license), etc isn't bullish . I've no idea what else will.
The swedish ETF launching tomorrow is even more bullish assuming people invest

My trading plan.... 300 btc long position opened atm, will add more if it breaks to the upside.
Otherwise, I will get stopped out and I will short it.

$2 trading range today... be prepared. Either direction that it goes in the next few weeks will be pretty strong.
The last time this happened was in May 2014, rallying over $49 dollars in a single day and up to $680.

almost there.
My understanding is we need to break that red parallel in log-scale to break the downtrend. News no longer have the strong impact as it was pre-2014... anyway, keeping fingers crossed!
+1 Reply
ditz wisconsin
the upper channel of which on the daily log chart pretty much equates to the SMA 100 since mid Sept last year - interestingly enough
I'm not really looking into MA, SMA and EMA. It's always lagging behind the real price action, but I do have it on my charts because of the fact that some traders look at it.
Yes sure, its interesting enough. We're getting closer to crossing it.
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