OKCOIN:BTCCNY Bitcoin / Chinese Yuan
Consolidation is getting tighter. As you can see a nice triple top that is forming a tight range. 3898 is resistance on a short term scale that we need to break to see a bigger upside swing. You can see that for every trend line up, the break is now getting noticeably smaller and thehigh 3780s are acting as a very strong horizontal level of support being created. Im looking for 3788's as an entry with a tight STOP. and another LONG TERM entry at 3625. has been decreasing over the last few weeks as market events such as hacking, dark markets moving to alternatives, speculations on regulations, and the unknown of correction time. Id rather look for a good long entry than be caught short as the legs down are now making higher lows.