chessnut
Short

BTCCNY EW Analysis - wave C Ending Diagonal

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
1224 4 8
From the base of wave B of the reaction from lows we had an abc. This could only be the beginning of two things, a triangle, or an ending diagonal , both 3-3-3-3-3 formations. the difference is that a flat, a 3-3-5 formation ending in a 3-3-3-3-3 Ending diagonal may be either wave B or II, where a triangle formation, 3-3-3-3-3 can only be a a terminal move. As the price has moved higher, the elimination of a triangle possibility means that we may target yearly lows from this point.
Good and clear at, but I don't think we'll see last zigzag to 1600cny.
Reply
chessnut Gravvi
might not quite reach 1600, its looking weak
+3 Reply
What's your opinion on the latest spike? You think this is a good selling opportunity?
Reply
chessnut HenrikLolsor
Yea, all good, but play it safe, draw a lower trend line and short the breakdown, dont expect any pull back. A full retrace of 1450 should follow swiftly in the case of ED.
+3 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out