I find it kind of unbelievable that a silly note from the PBOC is the reason for the crash. As if people didn't see that coming. The 2013/14 bubble was pricked by the PBOC and the market took 3 years to recover. I don't think a 3 year consollidation is so flimsy as to just roll over and die on one predictable PBOC memo.

Looks more like a simple bit of Huobi whalery to me (possibly with PBOC co-operation, who knows )

We've seen these mega dumps before in the last few months and the market just consolidates for a while and moves on. This one was bigger because the rise was bigger.

Lets see what happens. 2hr Hobular momentum histogram about to go to the upside which will help to pull the 4 and 6-hour charts round. After that we'll start to see what the longer term trend is.