Same chart, zoomed in to hourly...
Comment:
We broke above the inner triangle. We'll see if it breaks into the center of the pitch fork, roughly 12,000 or greater.
Comment:
It just occurred to me that the larger triangle ends around the Chinese New Year. And a little research tells me that the holiday lasts from February 16th until March 2nd. Holidays tend to be bad for crypto. However, looking at last year's chart (Jan 28th, 2017 - Feb 15th 2017) I see that this had no negative effect. We'll see what happens.
Also, each year the Chinese are allowed to invest a limited amount of money outside China. This resets yearly. So, we could see a massive inflow of money as the yearly allowance resets. While the Chinese have new restrictions on how much money they can withdraw internationally using debit cards ($15,000 limit), the individual $50,000/year limit is still intact.
www.zerohedge.com/ne...seas-atm-withdrawals
Also, each year the Chinese are allowed to invest a limited amount of money outside China. This resets yearly. So, we could see a massive inflow of money as the yearly allowance resets. While the Chinese have new restrictions on how much money they can withdraw internationally using debit cards ($15,000 limit), the individual $50,000/year limit is still intact.
www.zerohedge.com/ne...seas-atm-withdrawals