Updated idea about percentage/ moves in BTC. Short term bear, long term bull.
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Looks like the bounce zone held at least on the daily. Now to see if we can get past the weekly shit show.
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Still going strong, expect a pump to 7300/7500CNY as first short opportunity. Stay Frosty, bears
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Initial tag of 7500 was a good short term short to play, but longer term uptrend still strong. New highs in USD, so CNY chart is somewhat misleading of actual bullishness.
@Pansyfaust, I dont see big dump like we had in the beginning of january. Margin trading bans & trading fees introduction by the PBOC should make sure we dont see that again. Only shocking news items could create a panic and big sell off, but those are rare and people are getting smarter to be quickly fooled.
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@jostitrade, The counterpoint to that is volume; now that we are seeing how "real" the volume is in China, how confident are people in the ability for the market to absorb selling?