BTCCHINA:BTCCNY Bitcoin / Chinese Yuan
An impulsive count from lows in the BTCCNY pair turned out to be corrective in nature. After producing a , now a unorderly retest of lows, and a terminal EW triangle, the count is strong in favour of a larger . We are looking for a five wave rally from this point, likely to 1500+ yuan. There is one alternative, that the flat evolves into a triangle. While this would short term it would be very very long term as triangles reliably precede changes of trend.