swordmaker

swordmaker Updated 

I got the the idea to look at the relation between btc-e premium and spot from Lowstrife so if it works all credit goes to him. the idea is simple.. looking back from 2015 when btc-e starts to loose premium, bitcoin rallies. lower pane shows btc-e vs stamp.. 0 line meaning the price of both exchange is same. When above, the price of btc-e is higher than...

swordmaker

2 of the rallies (from Jan 2015 low) that reached up to 0.75-1 median channel of this pitchfork has retraced 32 and 44 percent. so I think a retrace of 30 to 40 percent is plausible. with this idea I would expect to 3490 cny which is also the monthly pivot and if that doesn't hold then 2960 cny as S1. in usd terms; 530 usd as pivot and 450 usd as S1 should...

swordmaker

RSI looks weird though

swordmaker Updated 

If 400 holds then one could expect this...

swordmaker

They are not perfect (proportion wise) but the similarities are obvious in terms of structure. so if it fails to break above 438 it will keep following the structure of the bigger rectangle with blue borders which means down to 390-380.. but if it does break up from this structure I think there is a big up possibility. by the way I'm long with a tight stop.....

swordmaker

Could this be a mirrored fractal? Let's wait and see :)