ChartArt

China 900 CNY Bitcoin Bottom

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
662 20 4
Bottom?! (while I was busy creating the chart I did not notice the new pivot low at 1015 CNY             becoming the launch pad for the uptrend) https://www.youtube.com/watch?v=MdYGJ3vLnsI
Come to think of it. BTCChina actually got dumped straight to 880 CNY :D

What a panic we had...
+2 Reply
Qiuness LastBattle
indeed, but this is the first "good prediction" i heard. Everyone is talking about 133$ prices, which would mean lower then 1000
+1 Reply
How is this the bottom? I don't understand your chart.
Reply
ChartArt MoonTrader
I say 1000 CNY could be the bottom. Where I placed the Bitcoin "B". It's the 23.6% Fibonacci retracement.
Reply
MoonTrader ChartArt
What makes you think it's just a retracement? Looks like weakness to me.
Reply
ChartArt MoonTrader
It's a target which is in the future (4am-8am). I didn't said this bottom is already here. It's -again- a bottom target.
Reply
ChartArt ChartArt
UTC time
Reply
MoonTrader ChartArt
Ok, but I still don't understand why. It seems so random. Looks like there's already a double bottom around 1015 CNY.
Reply
ChartArt MoonTrader
yes, while I was busy creating the chart I did not notice the new pivot low at 1015 CNY becoming the launch pad for an possible uptrend
Reply
MoonTrader ChartArt
I think that may be it, actually. We may already be starting the uptrend. I'm long.
+1 Reply
sammantic MoonTrader
There is absolutely no bottoming pattern in place, if you are playing this for a bounce I get it, but if you think thats the end of the down move I don't see it.
Reply
MoonTrader sammantic
We've been oversold for a long time. There's no more selling pressure left and the downtrend is broke.
Reply
Tdot MoonTrader
MTrader, what do you think about this dip that is just happening?
Reply
I wouldn't analyze it too much. All I know is we're oversold and time is running out. Even if we do somehow reach a new low, there's very little risk in going long here.
+3 Reply
ChartArt MoonTrader
I expect this to be the only reason why we had this reversal. The double bottom around 1015 CNY. There was no seller left to get even lower to 1000 CNY, because too many bought at this double bottom so it started to cascade in the other direction to the upside creating the first short squeeze and then more and more.
+1 Reply
love the rocket :)
+2 Reply
Maddie CryptoReporter
me2 !
+1 Reply
Very nice!!!
Reply
ChartArt Maddie
Don't fight the moon rockets :D
Reply
Qiuness ChartArt
yeah... 230 first target 240 second
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out