Theory: 3100 Yuan is a the crucial point for continuing the rally

albert73

member

Activity: 79

Merit: 10

Quote from: r3t4rD4life on December 18, 2015, 11:14:45 PM

This is the third time btc has seriously tried to break 3100 on Huobi and OKCoin in the last week. Looks like it will cruise through this time since it's more of a steady rise but who knows.

Also, notice how 30 thousand+ coins are thrown around like it's no big deal on Huobi Grin

3100 Yuan does appear to be a crucial resistance point. I thought 3000 Yuan would be more crucial, and I don't know why 3100 is a resistance. If it drops below the 3000 Yuan support I think the rally might be over, and if it breaks through 3100 I think 4000 Yuan will become feasible.

TERA

hero member

Activity: 728

Merit: 500

Quote from: r3t4rD4life on December 18, 2015, 11:14:45 PM

This is the third time btc has seriously tried to break 3100 on Huobi and OKCoin in the last week. Looks like it will cruise through this time since it's more of a steady rise but who knows.

Also, notice how 30 thousand+ coins are thrown around like it's no big deal on Huobi Grin

CNY/BTC volume on these exchanges have no fees. None of this volume matters. The 30K coins is actually a bunch of bots with no more than 400 coins each passing back and forth the same coins dozens of times in a high frequency trading algorithm. Do not follow these exchanges. Bitfinex is currently the leader.

kerrang

newbie

Activity: 22

Merit: 0

If they would fail this time again, the price could be dropped so hard.

2015Bubble

full member

Activity: 196

Merit: 100

I do not know my friend..
I do not like the -100m volume.

r3t4rD4life

jr. member

Activity: 76

Merit: 1

This is the third time btc has seriously tried to break 3100 on Huobi and OKCoin in the last week. Looks like it will cruise through this time since it's more of a steady rise but who knows.

Also, notice how 30 thousand+ coins are thrown around like it's no big deal on Huobi Grin

Topic: Theory: 3100 Yuan is a the crucial point for continuing the rally (Read 655 times)