J.Livermore
Short

Symetrical triangle after sharp drop... means continuation?

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
170 3 2
In a couple or dozen hours we will most likely have a market decision.

Symmetrical triangle are known for beeing generally continuation pattern after a sharp drop like this. Otherwise it's a consolidation... for a range/upward move. If we apply the AB=CD on that last move. We are eyeing a new low post december bubble burst ($320) who could be a strong support afterwhile.

My take is short <2400 CNY             , Close AND then LONG 1980 CNY             for a drastic move upward (+15%) if you got filled.

Place your short, ask, bids and fireworks according to.

edit: syMMetrical
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Imminent...
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Update1: Target hit (round number 2000), I think we will have a retest.
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J.Livermore PRO J.Livermore
2 years ago
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