OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
2637 20
1. It seems we have a strong support at 2000cny, so price could hit 2350 to 2400cny as max. before going down because of the bearish trend (PURPLE dotted line which at the same time is a descending triangle ABCDE - bullish pattern ).
2. Price would drop because of the ORANGE expanding/ascending triangle (megaphone/wedge) - ( bearish ) ABCDE (diagonal). Ending pattern Target: 530cny
3. Once the target is reached, it is possible a candlestick to 317cny more or less due to the BEAR DIV at the RSI
4. After the bearish patterns are reached the bullish patterns will trigger a rally because of:
a) the LIGHT BLUE Head & Shoulders pattern, Target: 4150cny more or less
b) the PURPLE descending triangle ABCDE, Target: 4988cny more or less
c) the GREEN Gartley pattern , Target: 6300cny more or less
Comment: If price goes down and overpasses the lower low (950cny) the Gartley pattern would get cancelled. This does not mean that BTC does not go up but this Gartley would be invalidated.
Comment: Caution: don't think BTC is going to 0 in my chart. I have to clarify because there are stupid people like @Fontas that think BTC is going to hit 0 in my chart. Please read.
Comment: Hey guys, I published an update ;) enjoy it ;)
Comment: My orange dotted line is downer than it should, that line should be drawn higher to 3295 at the higher wick. I did not take that wick but I should have taken that one.
Comment: Hey guys, this is my week view updated, taking the candles' bodies from 15m-timeframe
Comment: Hey guys I was watching the weekly view and there is a resistance very strong at 2950. After that big red candle there is a doji (between this weekend and the next week it could probably range up to retest the last top 2830 and stay into that range before breaking). In the other hand although the candle of this week stays as a doji the next candle could be another doji and that would confirm the downtrend unless the next candle became a big green candle that covered 50% at least of the last big red candle. I would personally like an uptrend to 4000 before going down
Hi can you give an update analysis? My long term weekly is indicating a new weekly uptrend cycle and new long term updrend confirming this week if it stays up.
It could go to 2900 but I am not sure for now. But the only point where I could confirm the uptrend is if it overpasses 3800. So this is something difficult to predict now.
+1 Reply
BitcoinGuru alteredend
yeh with all this manipulation, wash trading and fake volume the market maker wants still for BTC to go up. enjoy the bs
hey, hi. thanks for your work. makes sense. idk, why we're even moving up here. i'm waiting for the pullback. below $100 USD would be a gift!
+1 Reply
Ingemkts workingmanbruce
Yeah, it would be for sure :)
Thanks for the awesome chart!
+2 Reply
i agree
+1 Reply
500cny with shadow to 300cny could occur if my prediction works.
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