chessnut

EW analysis flat correction underway BTCCNY

BTCCHINA:BTCCNY   None
0
An impulsive count from lows in the BTCCNY pair turned out to be corrective in nature. After producing a zig zag, now a unorderly retest of lows, and a terminal EW triangle, the count is strong in favour of a larger flat correction. We are looking for a five wave rally from this point, likely to 1500+ yuan. There is one alternative, that the flat evolves into a triangle. While this would bearish short term it would be very very bullish long term as triangles reliably precede changes of trend.
Frånsägelse av ansvar

Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.