vey
Short

Typical parabolic upward move retrace to bottom retest?

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
86 0 0
Similar to Nov 2013 bubble and Nov 2014 parabolic move, this January 2015 move could lead to at least a 930/1000 bottom retest and even lower lows in about 2 months from now. Position is overall short from the top. 1430 could be local bottom and lead to a bounce in 2 distinct moves, first leg to 1550 area, 62% retrace followed by a second leg that could end in the 1650 area. If this scenario is confirmed, that 1650 area would represent a very good long term short entry.
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