Unapologetic_Capitalist
Short

BTC-CNY - Triangle (x2) Breakout?

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
397 0 4
First an overview of my Elliott Wave analysis for context, followed by my forecast(s).

Current Overall Level: Wave C
Current Sub-level: Wave 4
Next Sub-level: Wave 1 of Wave 5

Wave 3 ended/Wave 4 started on 10-05-2014.
Wave 4 consists of W-X-Y             combo.
Wave W made up of A-B-C (W duration: 10-05-2014 to 11-12-2014).
Wave X connects W & Y (X duration: 11-12-2014 to 11-21-2014).
Wave Y made up of A-B-C-D-E-F-G-H-I (Y duration: 11-21-2014 to present)

I think Y consists of an A-B-C-D-E             triangle with E consisting of it's own triangle, hence the E-F-G-H-I.

Primary Forecast: Wave I will overshoot triangle before starting massive bear run down to sub-2100 for Wave 1 of Wave 5 of Wave C within next 12-72 hours.
Alternate Forecast: More sideways action via connecting corrective X followed by Z resulting in W-X-Y-X-Z for this Wave 4.
Forecast Failure: If Wave I breaks out above 2385, then the A-B-C-D-E             triangle analysis is negated.
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