d5000
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Decentralization Maximalist
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January 23, 2017, 05:43:19 PM |
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I agree mostly with your analysis - not using TA exclusively but also trying to capture the "sentiment" in the community.
As I said in other thread, the situation is somewhat similar to the summer of 2013. Both bulls and bears seem to be in an "equilibrium" state at this moment after the recovery from the first large dump after the rally - in 2013 it was the 90-135 USD range, now with less volatility the channel could well be, as you say, 750-940 (with 5000 CNY as an important support mark). So until nothing fundamental changes, I think we will stay in the area you predicted some days more.
Events with possible fundamental short-term implications could be the end of the zero-fee policy at BTCC, Huobi and OkCoin and the Chinese New Year - both a bit bearish, but not enough to break the 5000 CNY support, in my opinion.
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