In the medium/longer term, I'm still bearish, but we need to retrace a bit after this great drop we had over the past two days. Here it looks like we are almost complete a "B" wave wedge.
If we break to the upside, then I have a solid target of around 2200CNY on huobi.
That is not only a wedge target, but also if A=C. We could spring over that if we have enough bullish momentum (which we may get as shorts will close)
Good luck all
Comments
kumarz
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so 2210 huh ... and back down after?
Nathanael
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starting to look like its not going to make it...
kumarz
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:-) I kept a small long from when I posted and am probly going to hold it til 370 or if it crashes below 345 ... good luck boss.
Nathanael
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or here is another ALT count. No matter what, I see us around that 2200 level
Nathanael
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Well, we are breaking out of the wedge... lets see if it holds. Here are adjusted targets if it does (still pretty much in the same area)