Chinese New Year has no effect on Bitcoin whatsoeverJust look at this chart. The vertical lines are all the Chinese New Years.
Chinese
Chinese New Year Events
BTC price usually dumps during Chinese New Year (CNY), and the trend lines from the previous big dip show just that. What we're seeing right now might be anticipation for CNY (5 February 2019).
If BTC just drops back to the 3200 or so support and recovers then I'm pretty sure a bottom is basically in, or very close to being in. The final bottom would only be 2600 and above if anything so there's not much point in missing the ship now.
18000 for Chinese stock small cap in the next few yearsChinese stock market has been in bear since 2008, equity financing is shifting to debt financing, while US market is shifting from debt financing to equity financing, US interest rate going up, China interest rate going down. Housing estate already in huge bubble, stock is a place international funds not really paying attention to, this market has huge potential to the upside, the PE ratio for this index merely 19, lower than 99% trading days in the past, I have a good reason to call here the historic bottom.
Shanghai Index Testing Key Resistance LevelThe Shanghai index set a new low this year bottomed out at 2443.00 last Monday. Where price has surged nicely last week, ending the week with 5.5% gain. Now price has been trading just underneath key resistance for just a day now. With US election coming out bullish for the US market, the only major concern now in the global market is trade war.
Trade Step-ups:
Bearish Reversal : Price rejects a break from current resistance level. Profit levels to look for are 2580.00 & 2550.00 respectively.
Bullish breakout : Price breaks current resistance level, look for consolidation above 2680.00.
USD/CNH Sell Idea (Potentially Major)This pairing has been unable to break above the $7 dollar resistance - rejected in Dec 16' and again in Oct 18'. I will be looking at a short position after technical and fundamental factors have lined up in favour of this direction.
The US Mid-term elections have softened the dollar rally that began just before summer 2018. However, I will not be opening any positions until trend-line A has been broken.
Losses can exceed initial deposits when trading market instruments. You can manage your losses by using smart risk management. Identify what your entry, Take Profit and Stop Loss levels will be before you enter a trade.
If you stick by a smart trading plan you can substantially reduce your exposure to losses.
China 500 (Shenzhen Composite) could drop to 1100-1200Chinese index could drop to the trendline within the WXY correction.
This area is located at the 1100-1200 level.
The trade war with US is in the background.
Today is the Chinese public holiday (Dragon Boats Festival).
Tomorrow we could see the gap down.
Invalidation above wave E (2047)
MOMO Flat top Breakout in the WorksMOMO which recently had earnings and a nice reaction to it has consolidated for a couple days right at its yearly highs. Today we are breaking a key level that has been holding all year.
MOMO has a lot of things going for it.
Chinese Stock- Tons of momentum in this sector. HUYA, IQ and many others are really ramping this past month . the whole sector is on fire.
Great Daily range. - MOMO can move 5-7% a day it moves quick and can be explosive
Very liquid with VOLUME EXPANSION. The last week you have seen volume expand out of its normal range.
We should see a nice run in this maybe to 60 over the next couple weeks.
USD/CNH All signals point downwardsThe US Dollar’s movements against the Chinese one currency have not been mapped for some time, because some consider them rather boring. The bottom line about the pair is that the US Dollar is losing value against the Yuan.
However, the movements of various timeframes can be mapped in various scale patterns. Moreover, it can be observed that the currency exchange rate has a rather notable tendency to respect Fibonacci retracement lines.
In regards to the near term future, the pair is either set to trade sideways or decline. The reason for such assumption is the fact that the pair has fallen below a very strong resistance cluster, which is located from 6.28 to 6.29 levels.
maybe End of February meet about 14kmaybe End of February meet about 14k,
do not forget Chinese new year made BTC to deep of chart!
CTRP primed to rally (Update)Today's pullback is a good opportunity to buy in. I believe over the next few months it'll swing back into the 50's. I also updated what my stop limit is at. With their financials looking so good, I expect long interest to rise leading into the coming earnings report, which will be around 2/28.
USD/CNH Long term The US Dollar has continued to lose ground against the rest of the currencies. The USD/CNH pair is no exception to this event. However, there is one interesting aspect to the decline of the Buck against the Chinese Yuan.
The currency pair recently stopped its decline and began to trade sideways. The move was initiated by a combined support of the lower trend line of junior channel down pattern, weekly S1 and monthly S2. All of these support levels are located in a range from 6.4200 to 6.4290.
Meanwhile, resistance is provided by the 61.80% Fibonacci retracement level at the 6.4480 mark.
The pair is likely to trade sideways until it reaches the resistance of the channel. Afterwards, the decline should resume.
Chinese rumors confirmed.A new, bigger bullish triangle pattern developed over the last few weeks. We can expect an outbreak on the upper side end of this week or beginning of next week. Until then, only small price moves within the triangle pattern will happen. An outbreak on the upper side will open new targets at 22500 and 24000.
However, we shall not forget that the US-government and the Bulgarian government own seized Bitcoins worth more than 3 billion US-Dollars and they want to sell them. We have to expect many major setbacks of the price of the Bitcoin at any time and this will make trading the Bitcoin much more volatile and risky in the future.
Alternative scenario:
We shall not forget that minor triangle patterns did not behave as expected during the last few weeks. As I already mentioned in my analysis from January 10, 2018, we cannot expect that chart signals will always work the traditional way for the months to come.
I could confirm the Chinese rumors on Bitcoin. The Chinese government is now having its eyes on local bitcoin miners present in the country. A huge number of miners has set their operations at some places in China, where electricity is available at low cost. With the Chinese government getting involved in control over these activities, it could possibly have a massive impact on the price of Bitcoin. According to some Twitter messages, the Chinese government is planning for an “orderly exit” for Bitcoin mining operations because the miners have consumed “huge amounts of resources.” - www.coinspeaker.com
We expect official news about this matter today. Depending on the conditions of this "orderly exit", the price of the Bitcoin could fall into nowhere. If Bitcoin mining becomes much more expensive, it could also have the opposite effect and skyrocket the price of the Bitcoin. I stay on the sideline, ready to act on the news.
XNET short @ next fib levelreminds me of HMNY as an enormous pump-and-dump, "blockchain" fueled CDN with no plan of monetization of currency itself, needs to revert to mean, matter of time
longIf the price is lower than 175.66 then wait for the next lowest point at around 169.85-170;
Otherwise buy @175.7
Short NEOTo quote kexari "NEO has the biggest hype of all. Westerners call it the "Chinese Ethereum". Yet nearly all the trading volume comes from the West. It's a joke comparing it to Ethereum. The white paper is incredibly ambitious, 90% of it is unimplemented. The GitHub activity looks comparable to a hobby project at best. The CEO is conveniently an advisor to all the ICO's that will use NEO. It's a pump and dump scheme. The best one there is. It has no intrinsic value because it doesn't solve any problems. Nothing is implemented other than a token distribution system hosted on a few servers. If you're interested in a coin like this you get in before the hype blows up, take your profit and park it somewhere safer like Bitcoin or Ethereum. Going in now would be a horrible decision."
This coin is the hype-master and I don't think it can keep up anymore...especially with the recent china crackdown. Expectations are going to dwindle and the over-inflated price will collapse with them.
USD/CNH meets long term supportThe US Dollar has been plummeting against the Chinese Yuan during the second half of August. However, it seems that the decline of the Buck against the Yuan has ended.
The currency exchange rate has met the support of a rather week long term descending channel pattern near the 6.5240 mark. It is possible that the trend line managed to hold its ground because of the weekly S1, which is located at that level.
Since then the pair has managed to score gains and reach the 6.56 mark, and it is expected to continue the surge. However, politics are more likely to set the exchange rate.
YY could be next china stock to breakoutChina stocks are hot right now. $bzun $$jd $wb $sina all having great strenght. $yy currently is consolidating in a nice flag and could run in sympathy and start to trend.
Neo failed break attempt on the upsideNeo is trapped in a downward channel. Today it tried to break free on the upside. The break got sold though and Neo is trapped again. Look for new declines till at least the previous bottem (40-45 area), maybe even lower.
USDCNY. Filling the Mega Gap. Wave 5One of market wizards once told that to find the trend we should squeeze the chart.
Frankly speaking I thought USDCNY is in a correction before I squeezed the chart, the Monthly chart.
The pair had a Mega GAP in 1994.
It looks like we have an echo from that distant time in form of a downside impulse, which is filling the gap.
We could be in the last large wave down to hit the 5.8145 mark.
This idea is opposite to the primary market opinion of imminent devaluation of yuan.
