ChartArt
Long

Buy now! New uptrend starts here at USD 400 , CNY 2350

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
OKCoin started the new uptrend with a very nice bottom. BUY!

Since TradingView doesn't offer OKCOin charts I'm using Huobi who follwed OKCoin before BTC China did.
What makes you think this is the start of a new uptrend? It's just a small correction before we continue down. The market still lacks actual demand.
+1 Reply
ChartArt MoonTrader
Like Yolos said: "Very nice double bottom."

I have seen a similar bullish pattern the last time on April 10-11, 2014.
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MoonTrader ChartArt
It is a nice double bottom, but that doesn't necessarily mean it's a complete reversal.
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MoonTrader ChartArt
I'll admit it's actually very nice. It also lines up perfectly with the 2 previous major lows on Huobi since the last bubble. There could be some potential here, but I'm not getting my hopes up yet.
+1 Reply
MoonTrader MoonTrader
And for the record, I am long right now ;)
+1 Reply
Very nice double bottom. I agree that there is a lot of upside potential here. But I don't think the long term downtrend is over.
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