oldstout
Short

5th wave behind us? Time for ABC?

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
I see possibility of ABC             now and HS pattern .
Maybe great time to short?
I think this is really the 4th wave and we are going to the 5th down, I could be wrong.
+1 Reply
AT chart we can easily see rising wedge.
Now price is touching/breaking downline of RW, and this moment is also touching 200 ema:
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oldstout oldstout
Nest 2 days I see as sideawys/slowly down below 1h Ichi Cloud till fight with support line.
I think bulls don't have so power as a main trend - clear downtrend, so this support won't hold likely, which means possibility of double bottom with 2nd low around 1300-1360cny.
If 1260cny won't hold, be ready with fiats, beers (or xanax if you're holding btc:):
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oldstout oldstout
A little bump on a way down.
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