chessnut
Long

BTC/CNY - an simple alternative terminal count.

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
120 0 0
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 RSI , 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 bull run seems to be slowing down, behaving more corrective than impulsive. if this turns around in a larger way, a clear head and shoulders pattern will form a further convincing trade set up.
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