Bad things come in threes? My last bearish call was too early and even against my own older prediction (see red arrow on the chart below). But now everything has lined up for a pullback to at least 2600 CNY:
Short entry: 3015 CNY
Stop loss: 3075 CNY
First short target: 2600-2800 CNY
Second short target: 2000-2100 CNY
Sell forecast (red arrow) from two months ago is due
- Late longs above 3000 CNY can easily get trapped
- Stock market crash is starting to reverse in a buy opportunity (the 'buy Gold and Bitcoin' theme can fade)
- intra-day 1 hour chart starts to look like a diamond top pattern
Short entry: 3015 CNY
Stop loss: 3075 CNY
First short target: 2600-2800 CNY
Second short target: 2000-2100 CNY
Sell forecast (red arrow) from two months ago is due
