btc china

we will find out within a few hours or few days whether or not the price can bounce back above green trend line or break the yellow trend line. im pessimistic and have placed a short. we're bouncing a bit off of the 38.2% fibonacci line but that doesn't have much long term significance.

note the triple top pattern as it approached the yellow trendline. we've breached the green trendline. i see this as multiple bearish signs. imo, China is still leading the price trends, the charts for bitstamp are differetn than china. ie. bitstamp does not have the exact same bearish patterns but it drops when china does.