BTCCNY: News key level update

We have a new key level, courtesy of Bitmain's CEO, who decided to tweet about his support and potential funding of Bitcoin Unlimited, an alternative to Bitcoin Core development, which could cause a situation where there are multiple Bitcoin block chains, dividing the community. Naturally, this scared some bulls off, and we had a selloff, but I think it's just manipulation, like most news from China turn out to be. Probably colluded with some other groups, like OkCoin, or other exchanges (like BitFinex), they caused margin traders positions to be liquidated, due to the amplitude of the move during low liquidity periods.

I'm long, as depicted in my BTC publications, and used this chance to add to my position, increasing it from 30% to 80% account. I'll trim once we have a sizeable rally, and hold only my core 30% position until we hit my long term targets.

Good luck,

Ivan Labrie.

Comment:

Moving up as expected, let's see how it reacts to the new key level here.

Comment:

$BTCCNY broke the recent news key level
s3.amazonaws.com/tra...shots/z/ZOTffcR3.png
If we close above it, that's a good start. Holding 80% account long for now.

Comment:

Proving difficult to break above the Bitmain CEO resistance (what a prick...) :p

We'll have to wait for now.

Comment:

www.zerohedge.com/ne...-targeting-its-users

Some risk ahead, but I wouldn't worry too much for now.

Comment:

Sellers are now trapped here.

Comment:

Trade closed manually:

I was trailed out of my 50% long position and now closed 15% more so I only hold 15% account long.

Comment:

I bought a 15% account long at 5200 here.

IvanLabrie
BTC's daily RgMov is now in an uptrend here.
s3.amazonaws.com/tra...shots/p/P0M6N5Hc.png
I'm buying back 15% here against this level

Comment:

6555.29 should be hit very soon. If we break that, and see 6770.19 during December, we can go WAY higher over time.