Fractal highlighted is strikingly similar, though the quarterly premium is $10 short of what it was in the first instance. 4h close above triangle is suggesting strength and markets curiosity to retest top of range (4800cny).
One should wait to observe how daily closes before entering. As for me, I bought the break/retest of the support/resistance wall.
The daily's looking nasty here. $390 has been rejected on U.S. exchanges which has negated the possibility that enough momentum exists to push to and beyond $400. Looking to add on a break of 2520 cny1.05% as well as support denoted by the thick orange line.
Pseudo Analytical Indicators: New moon and Chinese New Years converge tomorrow, the 8th.
FUD!!! "The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards. I will no longer be taking part in Bitcoin development and have sold all my coins."
Short term @ $415 based on downwards sloping break of resistance and confirm of transition level (blue-dotted). This price action signals a continuation of the bull channel. We should see the volume needed to catalyze this move shortly after China open today.
Large expectations building for the ECB this Thursday in response to the first monetary policy divergence between the U.S and the Eurozone since '08. In the event that policy decisions fall short of expectations, we will see a massive short squeeze. It appears that the market is buying into this idea more than the former as made evident by the high time frame...