licence2kill
Short

BTC drop 2 incoming (largest one)

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
The recent action pretty much confirmed these EW's. The large spike upwards could definately be the wave C of the smaller ABC , which means it ended as wave 2. (It's also a possibility that the spike was wave A, so 1 higher top could follow. Anyway, that doesnt make it less bearish .

I think that BTC             will be going towards 1510-1530 yuan, before igniting larger cycle 3 to 1440.
The downwards movement will end after the first bottom below 1440 (roughly expecting 1380 ~ 1410).

A upwards retrace to around 1440 will come after this.

snapshot
(update)

Looks like point C extended more, topping before the last high at 1575~. this could mean the start of the waves down is happening right now
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