BTCCHINA:BTCCNY Bitcoin / Chinese Yuan
Nothing new here. Since the market seems to have completed a cycle degree wave II recently as shown on the chart we should expect five waves up to unfold in the coming months. It could be a leading diagonal (expanding or contracting), or a regular impulsive wave of course it's too early to tell. I would imagine this move would take us to 10K ( CNY ); a good psychological round number. Copied and pasted the previous bars of primary wave one to get an idea of what kind of volatility to expect, but since this is cycle degree wave III it could be much more aggressive in price and time than we have seen in the past.