BTCCNY: Monthly uptrend using Okcoin data
Updated
In this chart we can clearly see that the monthly uptrend is intact.
If I include the previous uptrend data into the mix, the time at mode signal gives me room to rise to 11580.73 in 11 months or less.
The stop loss has to be at 1548 for this monthly long, and we have two potential entries, 1921.41 and 1724.11.
I don't think the second one will be filled, and the first one has already been triggered.
I've moved from btcchina to Okcoin data, because of the higher liquidity, and how it seems to dominate the other exchanges, giving more reliable signals. This includes the USD crosses as well. CNY is simply more liquid and thus more suitable for technical analysis.
I'm sharing entries in my group, for short term, intermediate and long term opportunities.
In this case, this would be an example of a long term trade. My favored entry is to keep pending orders ready, and set and forget in this case. These two entries are valid for the next 2 months after the monthly close.
In the intermediate term, I see a possibility for a 1-2 week uptrend but the upside is limited. I'll be trading it with my group though, so if interested do contact me for more information for joining me and my partner for 24/7 BTCCNY futures coverage.
Good luck if taking this potential home run trade.
Cheers,
Ivan Labrie
If I include the previous uptrend data into the mix, the time at mode signal gives me room to rise to 11580.73 in 11 months or less.
The stop loss has to be at 1548 for this monthly long, and we have two potential entries, 1921.41 and 1724.11.
I don't think the second one will be filled, and the first one has already been triggered.
I've moved from btcchina to Okcoin data, because of the higher liquidity, and how it seems to dominate the other exchanges, giving more reliable signals. This includes the USD crosses as well. CNY is simply more liquid and thus more suitable for technical analysis.
I'm sharing entries in my group, for short term, intermediate and long term opportunities.
In this case, this would be an example of a long term trade. My favored entry is to keep pending orders ready, and set and forget in this case. These two entries are valid for the next 2 months after the monthly close.
In the intermediate term, I see a possibility for a 1-2 week uptrend but the upside is limited. I'll be trading it with my group though, so if interested do contact me for more information for joining me and my partner for 24/7 BTCCNY futures coverage.
Good luck if taking this potential home run trade.
Cheers,
Ivan Labrie
Trade active
Note
On track.Note
Still a great entry...there's now a confirmed 2 month timeframe uptrend. Still 193% upside left.Note
People not laughing anymore...
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