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

Description

⋅ Sep 20, 2014 3:06 AM

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.

Bullish Patterns

Comments

MoonTrader

⋅ Sep 20, 2014 3:15 AM

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.

ChartArt

⋅ Sep 20, 2014 3:18 AM

Like Yolos said: "Very nice double bottom."

I have seen a similar bullish pattern the last time on April 10-11, 2014.

MoonTrader

⋅ Sep 20, 2014 3:24 AM

It is a nice double bottom, but that doesn't necessarily mean it's a complete reversal.

MoonTrader

⋅ Sep 20, 2014 3:28 AM

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.

MoonTrader

⋅ Sep 20, 2014 3:29 AM

And for the record, I am long right now ;)

Yolos

⋅ Sep 20, 2014 3:07 AM

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.