Tracking possible correction or further decline

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
126 0 5
Tracking a possible A-B-C zigzag from the ~$450 local top. Some decent divergences are showing up on the 1H which may begin to resonate into larger time frames. Looks like we will at least make a run to the declining resistance from the drop (Purple Box) and decide from there. Failure to break this resistance should push us further down, possibly through the blue support line from the beginning of the last rise.
Time will tell :)
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