OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
3rd wave scenario
Ingemkts
a year ago
Well, I was taking a look to btc because I trade LTC at most, even though I said that btc could go a little bit more down to 1383 which coincides with the bat pattern (261% $1383) which is the lowest retracement for this pattern and the same time is almost the 100% of the retracement, if not then it means that btc touched yet the lower point for this wave (2nd wave, ABC correction wave) I have found that the 2nd waves are usually making retracements to 76.4% or 100% of 1st wave, in btc & ltc. Besides the 2nd's wave final point coincides with the 4th wave of the last impulsive wave, which is not usually exceeded by 2nd wave retracement. Now from the lowest point btc made (1419) I estimated the targets based on EW, RSI div and bat pattern. Ultimately the big 3rd wave could reach $2400. THIS IS JUST AN ESTIMATED and it does not mean that btc is going up, it is just my bull escenario :) I could be wrong. I would like feedback :)
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