Cyclic topology of current downtrend and a possible correction

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
559 1 3
Quick chart for reference. The fact that the local reversal line (dashed green) is at an oversold instead of -bought this time means reversal of the large trend.
It missed my 6 days old target (3466) by less than 0.1% (though the timeframe was pretty off), let's see where the bulls can take this now that they finally got a chance.

Make sure to take profits on overboughts at any cycle line
+1 Reply
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