BTCCHINA:BTCCNY Bitcoin / Chinese Yuan
This is a simple and Valid count for a terminal correction in the BTC/CNY . the wace C extreme low terminated with a v(V) with a lot of price history behind it. This suggests a lot of rangebound consolidation if not reversal. Combined with significant divergance on the , a clear breakout of the descending channel, furthermore resting on the channel as support, this is a strong trade developing to the upside. While on a smaller scale, an abc correction after the last run seems to be slowing down, behaving more corrective than impulsive. if this turns around in a larger way, a clear pattern will form a further convincing trade set up.