June
Long

Should take a long position somewhere around........

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
119 0 1
It appears to me that uptrend is going to continue, Although I expect the price to consolidate at 0.618, it goes up after reaching near almost 0.382.

The AB=CD pattern is going to be formed, it seems to me, should the price start a little consolidation after touching either 2.24 or 2.618, where the upper band (Bolinger bands) is expected to be confronted by the price.

On a daily chart , the price has just mounted above 20MA creating a golden cross with 5MA, and this may well be a confirmation of a long rally, or Wave 3, I think,


The gist is that should the price turn around at a pontential reversal zone, it will be fitting to take a long position during consolidation, perhaps at 2150 yuans

However, should the price go well beyond the potential zone, at which point it breaks through a upper Bolinger band, it will be clearly a strong sign of an extened rally, and I think in this event, it will be also suitable to go long then.

I bought half at 2167 yuans, as soon as the price went beyond B point, and think it is appropriate to just watch closely where it is going to end up.

I have liquidated all long positions at 2275.

Thank you for reading.

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