the_batman
Long

BITCOIN ELLIOTT WAVE NOTES MAY-JUNE 2016 - REVERSAL TRIANGLE

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
156 0 3
More unqualified Elliott wave notes. Lotta work went into this shabby drawing. I could write/draw a thesis about it, but it wouldn't fit ;)

Intended primarily to help more experienced traders save time.

TV deleted my additional notes. I'll field questions (if anyone sees this).

I stole work from @Mr.Coins to make this chart. He provides actual, thorough analysis.
Comment: Err for clarity:

This is a reversal triangle completing wave A of the correction of the next higher degree (ie transitioning to wave B), corresponding to the large jump we saw last week.
Comment: The post thrust behavior proves this chart to be in error and corroborates my alternative hypothesis:

There's a running triangle starting at 3910@5/28 and ending at the bottom of this chart.

The implications are that we're now entering a wave 4 of a larger degree.

Cheers.
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