Untangle the Bitcoin angle

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
518 4 7
A harmonic angle shapes the Bitcoin             price trend since years. The angle ends in January 2017 at 5000 CNY: A breakout to the downside would signal a continuation of the downtrend (red arrow). If the price stays above the blue line it could lead to a very strong uptrend. This is currently less likely, which is why I decided to post this chart not as neutral, but as short ( bearish ).

imo yeh trend is still down. that 1D RSI needs to come down and recharge.
Price trend of November 2015, a week before the month is over:

Current weekly chart made an hour after posting the above angle chart. I was able to make a screenshot while the price (in smoother Heikin-Ashi calculation) was exactly at 2085.00 CNY. I love precision :)

FluidicFX ChartArt
Wow, that smoother Heiken-Ashi form is beautiful. The precision too :)
+1 Reply
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