rubenthin

Descending Wedge Corrective Move

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
219 5 4
Looks like this wedge may complete this leg:
snapshot

Measured move from the first part of the ABC points to low 1530s.
But the wedge implies low 1550s.
Although on the same wedge on 8hr makes 1546 possible.

Bigger question is which leg does this complete?
Notes to which are in the chart.
I guess the 1585 high qualifies as point B?
Any thoughts?
snapshot
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itsheng rubenthin
The new 1595 as point B?
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It seems to have impulsed now...potentially a wave up?

snapshot
Reply
Wedge after wedge after wedge.
As per Trade_master_3000s post, looks like it faked or at least failed out
snapshot
Reply
Agree.
Reply
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