Bitcoin Outlook Early September 2016
China lagging behind USD exchanges. Bad.
From historical data, China always lead during a pump.
There were 2 occurrences(that i could find) when China is lagging with this magnitude during sideways/pump.
BOTH WHICH ENDED UP DUMPING WITH FULL RETRACE.
(Blue rectangle)
However, not all hope is lost just yet.
Charts + Open Interest looks great.
China might just need some more time to accumulate.
Expectation :
Sideways to bleed. Possible trace back to 4080 yuan.
No pump so soon.
Signs of a strong rally : China leads USD exchanges
From historical data, China always lead during a pump.
There were 2 occurrences(that i could find) when China is lagging with this magnitude during sideways/pump.
BOTH WHICH ENDED UP DUMPING WITH FULL RETRACE.
(Blue rectangle)
However, not all hope is lost just yet.
Charts + Open Interest looks great.
China might just need some more time to accumulate.
Expectation :
Sideways to bleed. Possible trace back to 4080 yuan.
No pump so soon.
Signs of a strong rally : China leads USD exchanges
Penafian
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