BTCCNY: Weekly uptrend signal

30 Eki 2016

BTC is about to confirm a weekly uptrend here, after this week's close. Unless something strange happens and price suddenly drops under 4310 cny, we can expect the signal to trigger an uptrend to 7047.01 give or take, to be reached within the next 8 weeks. I reccomend holding a 15% spot long position, if not already in, you may go long gradually as price drops next.

If not long, or, if you booked some profits like we did, higher, we can enter longs again, if we get a dip to support, between 4600-4700, risking a drop under 4500. The uptrend would still be valid if price retested 4310, but it would make this intermediate term long fail, and postpone the start of this sharp rally we foresee here.

Good luck!

Ivan Labrie.

30 Eki 2016

Not

Just bought this dip, reentered our core 15% of portfolio spot long.

If we get lower prices, we'll look to enter leveraged long positions on top.

Cheers.

s3.amazonaws.com/tradingview/snapshots/v/VrcQCb9p.png

31 Eki 2016

İşlem aktif

Bought more at the dip here, stops at 4500.

31 Eki 2016

Not

Average fill: 4768, stop 4500

31 Eki 2016

Not

And up 1.7% on the last trades.

Looking good, up for the week now.

1 Kas 2016

Not

New weekly high, holding still.

2 Kas 2016

Not

2 Kas 2016

Not

Check current price, review my comments.

3 Kas 2016

Not

zerohedge.com/news/2016-11-03/china-prepares-impose-curbs-capital-controls-bitcoin

This is dangerous for BTC holders, let's close any leveraged long if you have them, and trim positions to 15% if you didn't yet.

4 Kas 2016

Not

I doubled my long from 15% to 30% at 4736.

4 Kas 2016

Not

Sold half of the position at 4767.

4 Kas 2016

Not

Keep a stop loss at 4500.

4 Kas 2016

Not

New BTCCNY key level

7 Kas 2016

Not

Keep in mind the weekly uptrend duration, as well as the target. Be patient holding the core long position here.

21 Kas 2016

Not

Price will probably hold above 5099 from here onwards.

22 Ara 2016

Not

This is the last week in the uptrend, if we don't suddenly accelerate to 7047.01, the uptrend might stall, or, we might some kind of pullback.
I'm more inclined to think we will stall after maybe hitting the news key level at 6555, but I'm also open to a retracement, but it won't be easy, or safe to short it. After this week's close, it will still have 3 weeks to confirm the bullish momentum, in the intermediate term, so, better to hold, and simply add if we get some kind of daily or weekly dip.