BTC WEEKLY CHART: "The Panic Zone" THEY'RE BAAAACK! (more)

2016年10月29日

Go back and read my previous published idea. I pointed out there is a huge difference between the Chinese Yuan/BTC chart and the BTCUSD chart. I thought I should show you the difference and speculate where this will end.

First the previous devaluation the volume was very small relative to what's going on this time around. That's because the Chinese insiders profited nicely in their first experiment with Bitcoin. This time they are more than doubling down. The final day of the rally previously and the day the Yuan was devalued was the day of the Brexit vote. The news media hardly reported about the devaluation event.

This time around it is a complete and expanded repeat. What event is coming up that will obscure the news the Chinese are manipulating their currency in a big way? THE US PRESIDENTIAL ELECTION DAY!!!!!

Look for the Chinese to move out of Bitcoin in a big way as the Yuan is devalued again.

I'm LONG for another week and look to get out while the BTCUSD price settles back to the major trend line I have illustrated in my previous charts.