Could, the price continue to meet the expectation or is it going to confound the bulls? What does the correct application of and Principle suggest for the Bitcoin's intermediate term price action?
Whilst, my anticipated resistance at 570 zone in my last chart was short lived and now we have 680 at the doorstep. This has acted as a resistance now for few days. It is possible that it might hold, or more likely we have potential small triangle in formation which could be very short term and could achieve 700-720 or on a particularly strong breakout could even reach the proximity of 800.
So in the very short term potential . However on an intermediate term it is in cycle and the current bounce could be viewed as a bear market rally. So my dreaded "RED ARROW" to 300 zone still remains.
Many have taken issues with me for being persistently and not appreciating all the positive fundamentals filtering out recently. Many ask me at what time will I change my mind? Why should I expect 300 retest for the final low?
It would seem that my attempts in explaining these in the Chat has been unsuccessful and perhaps confusing in usage of various terminologies of Bull and Bear cycle or moves.
Well, whilst I do not expect you to accept my analysis without questioning, at least fully understanding my reasoning and apparently taking a solitary stand on the matter could assist you to considering possibilities and then dismissing it if it is flawed and you have a better handle.
Here is the Youtube Link http://www.youtube.com/watch?v=OzZ0t9BVL...
I understand that there are particular personalities of for any market or instrument and Bitcoin is no exception. So I sincerely wish you could be proved correct and that I would accept I got it wrong which I am prepared to do. No Problem with that.
However, where price action and wave cycles are concerned it has a way of proving best of analysis wrong if you just follow the crowd or general sentiments no matter what it underpinning such views.
So we will have to wait and if necessary I will bow to your superior knowledge. I can wait.
Now the market reference is houbi not Gox, the reference currency is CNY not USD, the 70% of the market are Chinese traders ...
and probably the old market in which you have a lot off experience is a market manipulated by GOX.
but the BTC market now are a not regulated $7.200 Million not a $110 Million market, now we are working with new rules the traders are a professional traders, not a evangelist of electronic freedom
and you can check the market share of okcoin, huobi, btcchina y anxbtc
last 6 month: 60%
last 30 days: 76%
last 7 days: 79%
last 3 days: 84%
last 24h: 85%
With this data The market share is clearly growing in China (with the same fees)
are you sure that you look any data?