Caerbanog

BTC wait for breakout, buy on lower cloud

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
213 1 4
6 months ago
Testing idea publishing :)
We are consolidating arbitration spreads between CNY             and USD/EUR. China was paying almost 10% premium for the pump. Once exchanges get to more reasonable levels pump will have fuel to resume.
Chop within the support cloud will add fuel to this action. You may take this opportunity to scale into a long or just wait for the breakout.
Stops just below the cloud in case of a serious correction to the lower Fib levels.
6 months ago
Trade closed manually
Caerbanog
6 months ago
This went totally sideways, was expecting more volatility.
Arb target has been hit, BTCEUR has drifter 20EUR higher and is almost breaking out.
This trade is now invalid, draw new entry and exit points.
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