Using the ew theory on the 45 min chart, we could be in the retrace of the third wave. The retrace could go to 1510 yuan max. After this leg 5 will follow and i think that the purple line - coming from the top of the last bull run - will serve as a huge support.
The RSI basicly supports this, since the last 2 days look more like a small retrace instead of the beginning of bullishness.
No, according to the EW theory, it can still go up to 1510 but it might aswell go down from here. I just drew a h&s pattern where the volume looks like it's going to form a right shoulder. So i got my short placed on a double top at 1494~ and will add some more if the right shoulder is really going to rally.