ChartArt

The Bitcoin rally is over after forming a double top pattern

BTCCHINA:BTCCNY   None
After a fast and furious price advance in Q4 2015 the weekly RSI now looks like a double top and therefore the only direction for the BTC price is back down to test the deep buy support (which could be around 1900-2100 CNY).

Short entry: 2750 CNY (not everyone was able to sell during Christmas 2015 ...)
Stop loss: 2800 CNY
Target: 2050 CNY

P.S. If the price falls and stays below the SMA 200 this would confirm my bearish "Untangle the Bitcoin angle" scenario.
면책사항

이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.