BTCCNY EW Analysis. abc, I smell a triangle.
A five wave decline followed the fifth wave of the flat rally that took us up from yearly lows. A five wave can be the start of a larger impulse, a primary wave, or it could be wave A. But now that wave hypothetical ii is unfolding in abcs, where wave C should be an impulse, we are given a clue that we are in a triangle sideways correction. triangles may be wave B or iv, in this case it could only be a wave (EDIT) B . being terminal moves, this triangle could produce a thrust that will produce a bottom at around (EDIT) - 200, or maybe around 1250 yuan.
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