In the case of , we had a signal trigger in the weekly recently, which suggested a potential 170% rally would start, that would last up to 9 weeks.
The rally has exceeded the target, very dramatically I might add, but still has time left in it.
For the time being, I'll be observing the price action around the key support levels on chart, and monitoring for uptrend continuation signals to get involved in this market again.
The decline on chart has one more day left before it can be retraced, theoretically.
That being said, the fall has been considerably steep, showing increased , which makes me think this is profit taking in a large scale.
I reccomend caution, but if you want to hedge your BTCCNY or BTCUSD long exposure, maybe ETHXBT isn't a bad idea, with sufficient technical arguments.
I'll update the chart as we move forward. The weekly uptrend shows there's time left until March 13th, so, stay tuned for updates.
We might be forming a triangle here.
Verdict: very little time to hit targets, and unlikely to go higher than the yellow line.