BTC correction may have further to go

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
119 0 0
I can count 5 waves down for wave a, but if this moves turns out to be a zig zag I would expect a three wave move to the upside followed by another five down to complete the abc structure in subminuette degree. The waves shown in pink are one possible scenario measuring b = a x 0.786 and c = a for a fairly standard zig zag .
Once the correction is complete we should expect a powerful move to the upside (wave 3 of a higher degree).
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