SpielMeister

BTCUSD/BTCCNY Convergence of 3 day triange and 1 month triangle.

OKCOIN:BTCCNY   None
With the convergence of two downward resistance trends that have played out over ~3 days and ~1 month respectively, it appears that the market is in for a big move very shortly.

Watch for the market to dip below the long term support line on CNY , or to the long term support line on USD, and then shoot back up to the 1-month trend line . If we break through that trend we may be truly out of the last few months bear market. If we bounce again, more uncertainty and more likelihood that well break the long term support and crash to the 280 support level and quite possibly beyond.