|
Title: Finally 4000 CNY / $600 Post by: zimmah on June 11, 2016, 11:50:40 PM It seems like we waited ages for it (in fact only days) but we finally broke through 4000 CNY and $600 again.
This feels really like a great milestone (even though it's mostly psychological, but markets are largely psychological). Not sure if this will hold, but either way it's nice to see this rally still has upwards momentum even after a couple of 'sideways' days. Title: Re: Finally 4000 CNY / $600 Post by: Shiver on June 12, 2016, 12:51:00 AM The volume doesn't underpin it, but don't be deceived. I just happened to be watching as the daily bar rolled over and there was a big push in the last couple of minutes on the price making that daily price vs volume a poor representation for that period.
Looking at the weekly there is scope for a pull back, but this doesn't diminish my belief that longer term (a month or two) we can't resume a decent upward trend, even if it should unfold that it doesn't make it this time. Title: Re: Finally 4000 CNY / $600 Post by: Cyaren on June 12, 2016, 12:54:30 AM It seems like we waited ages for it (in fact only days) but we finally broke through 4000 CNY and $600 again. This feels really like a great milestone (even though it's mostly psychological, but markets are largely psychological). Not sure if this will hold, but either way it's nice to see this rally still has upwards momentum even after a couple of 'sideways' days. That barrier is definitely one of the hardest to break... But we did it eventually. It shows that a good technology that has real potential will achieve that potential it deserves eventually. Should go up further though before the halving. Still a month away. Title: Re: Finally 4000 CNY / $600 Post by: talks_cheep on June 12, 2016, 01:08:54 AM You know the number 4 represents death in Chinese?
Title: Re: Finally 4000 CNY / $600 Post by: Syke on June 12, 2016, 01:16:44 AM You know the number 4 represents death in Chinese? Death to bears! Title: Re: Finally 4000 CNY / $600 Post by: hermanhs09 on June 12, 2016, 10:42:27 AM It seems like we waited ages for it (in fact only days) but we finally broke through 4000 CNY and $600 again. This feels really like a great milestone (even though it's mostly psychological, but markets are largely psychological). Not sure if this will hold, but either way it's nice to see this rally still has upwards momentum even after a couple of 'sideways' days. You're right in the sense that markets are psychological, because people are heavily influenced by the outer world while making their decisions. If their mood is bad, then they're likely to sell. But I think the markets are bullish right now. I think this price level is gunna hold. Title: Re: Finally 4000 CNY / $600 Post by: zimmah on June 12, 2016, 03:27:09 PM You know the number 4 represents death in Chinese? I know, that's why it took them so long to pass 3900 CNY, but once they did, the raced straight to 4442 and stopped there. As i predicted (I predicted they'd stop at 4399 and get stuck there for a bit until they got enough courage to face that many 4s) which is exactly what seems to be happening. The volume doesn't underpin it, but don't be deceived. I just happened to be watching as the daily bar rolled over and there was a big push in the last couple of minutes on the price making that daily price vs volume a poor representation for that period. Looking at the weekly there is scope for a pull back, but this doesn't diminish my belief that longer term (a month or two) we can't resume a decent upward trend, even if it should unfold that it doesn't make it this time. The volume actually isn't bad at all |