CryptoBanker

BTC Breakout Targeting 4100 Yuan

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
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The MASSIVE ascending triangle that has been building in BTC since Nov. '15 has finally resolved to the upside. This occurred on good volume and with a fundamental backdrop of Chinese capital flight. There's no reason to doubt this breakout - we will probably never seen BTC 3000 Yuan or below again.

My tech. analysis suggests we should hit 4100 Yuan without any major pullbacks. Look for the 4100 level and higher to give shorting and/or hedging opportunities. Any type of panic-buying blow-off tops above 4100 should be sold and we should see our first major pullback as BTC resumes it's bull market glory.
CryptoBanker
7 months ago
BTC is breaking higher and approaching 4000 again. It first tested 4000 on May 29. This has been a lengthy sideways (triangle-type) consolidation, long enough to "recharge the batteries" that we will likely surpass the 4100 level with ease. As such, I'm disregarding my 4100 level as a major shorting opportunity. No harm done.
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