Short Term Long. Bullish Continuation Bounce Off 76.4 Level.

27 Haz 2016

TARGET AREA: $660.

The bulls took over off a bounce from $615 range; the reaction was strong-near parabolic, either bears were panicked into selling their shorts or the bulls have begun to take more interest in pushing the price back up. This next run up will tell more. There is potential of a flag pattern forming as bears may chop off the run early to a 76.4% level around $653.

27 Haz 2016

Not

Side note: the 615 bounce was primarily pushed but Bitfinex exchange. OKCoin and Huobi were slower to follow, but eventually did.

27 Haz 2016

Not

Just waiting for that final pop. Could be a drop before. Bears are putting up good resistance around the prior resistance level.

27 Haz 2016

Not

The push up was plateaued by strong resistance. Following the 1M chart, started scaled out of the long, and scaled in to a short along the plateau; this was risky but it paid off. The short setup was for a target area of a +/- 76.5% retrace. Deciding factors to short: The volume was low for bullish trend and OKCoin and Huobi were showing differing enthusiasm to go higher, one played flat while the other had more volatile spikes up and rapidly back down. Well played.

27 Haz 2016

Not

Scaling back in for another attempt a long.

27 Haz 2016

Not

Now have a better basis for the long. Target area is still intact. 655 is a big key level primarily because, 655 USD ~ 4300 Yuan.

27 Haz 2016

Not

Testing prior highs. Watching for a break out over $655 for possibly higher highs. China is knocking on 4280-4300 right now. Keeping a close eye on this.

28 Haz 2016

Not

And there you have it. Congrats to everybody who hit this run. Perfect Play.