First impulse wave of incoming major downtrend

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
490 1 7
So far everything on schedule -- drop occured right after 0.62-year cycle line had passed, initiating the third (last?) wave of the big correction. Here's my roadmap for the first interval.

It looks like we could see an inverse cup-n-handle smashing the yellow support line before continuing with increased momentum towards the final target in the sub300 zone. So make sure to close any remaining longs if price fails to get above the pitchfork median trend line again (it will).
Well, of course it's the 3615 zone with two extremely strong technical supports intersecting. I'm not quite sure why I thought it'd be able to hold so strong for a whole week, it's Bitcoin after all :D
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