HUOBI:BTCCNY   Bitcoin / Chinese Yuan
481 7 13
We've been waiting for a deep drop since 29th of January but only seen a few shallow ones that retraced completely.
That period concluded with a raise to 2620s on 4th of Feb.
Now we're back to the same levels (2530s) but the trend seems reversed.
Between 29th Jan and 4th Feb it was a down trend, now it's going up, little by little.
More over, similar to the occasional drops we've seen in the previous period, we're now observing occasional pops.
If this inverse pattern plays out, a big drop, similar to the magnitude of the pop on the 4th is near.
esuvari PRO
10 months ago
well that didn't play out, did it?
+1 Reply
oldstout
10 months ago
Another interesting chart. I don't know if we'll see inverse D-move but your point of view is definetly worth to follow. :)
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oldstout oldstout
10 months ago
Any new ideas after today's pump? Because we can be almost sure about invalidation of inv. D-move scenario.
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esuvari PRO oldstout
10 months ago
yes, basically the whole thing went down the drain :)
Don't know what happens after today really, I still wait for a substantial drop but chances are getting lower and lower tbh.
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oldstout esuvari
10 months ago
D-move now is likely if whole patern is real. Or just new cycle of something new lol (nor inv D nor D).
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oldstout oldstout
10 months ago
^pattern
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esuvari PRO oldstout
10 months ago
Yes, you maybe right. Perhaps this is kinda like a triangle pattern, where you know there's gonna be a big move in the end but don't know which direction.
Rule: If a consecutive pattern repeats itself inversely, the big move in the end will also get repeated but it can be in either direction.
lol
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