BTCCNY EW analysis - bullish correction
A vivid bearish triangle violently (characteristically) broke down in the BTCCNY pair last night producing a low of around 1320. Triangles are always terminal moves to one higher degree of fractal. knowing this, we can piece together the medium term picture to see that a flat ABC correction is probably under way. Wave C could be a nice impulsive wave towards 1580, or be a weak abc forming a triangle from at least 1450 according to guidelines (retracements within a flat are deep, 62%)
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