XBTEUR has a similar setup to BTCCNY, but the chart differs in how accumulation and distribution patterns formed.
Right now, there's an active daily uptrend signal pointing to 1067 euros, but it's likely going to fail. The market also built a potential new uptrend mode up here, a re-accumulation level, which could trigger a rally from here, or alternatively an uptrend failure and a brief pullback to support below.
We'll need to monitor this and btccny, and check the uptrend speed lines on each, as well as the reaction to scheduled fundamental events, by March 1st, and 11th.
See the chart annotations for more information.
Cheers,
Ivan Labrie.
Right now, there's an active daily uptrend signal pointing to 1067 euros, but it's likely going to fail. The market also built a potential new uptrend mode up here, a re-accumulation level, which could trigger a rally from here, or alternatively an uptrend failure and a brief pullback to support below.
We'll need to monitor this and btccny, and check the uptrend speed lines on each, as well as the reaction to scheduled fundamental events, by March 1st, and 11th.
See the chart annotations for more information.
Cheers,
Ivan Labrie.
Nota
Acting nicely, we can hit 1039 if all shorts are squeezed, before bringing in new supply.Nota
Nota
I'm out of margin trades, holding spot buys (50% account worth, from avg. entry of u$s864)
Nota
Inside trendlines show we broke out, but we could consolidate further due to fundamentals.
I'm holding for a few more days before hedging ahead of March events.
Nota
I've hedged near the top.
Nota
Since we broke above the highs, I'm out. I was waiting for a potential drop after moving higher, but we had bullish signals in all exchanges, so I think the spread will close, between the East and the West, so, China and all asian exchanges go up faster for a few days to match Western exchanges, and then we could go sideways and higher eventually. If we get a drop, it would come during March, not now. I did buy and hold a margin long in ETHBTC, a 27% position, and I'm holding that one as my only 'hedge'.
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