I published a triangle count for the BTCCNY
pairs recently that has not yet broken out sharply to the downside. It seems like they were waiting for bitstamp
as today bitstamp
is showing off a beautiful EW triangle in great form. Wave e is complete, meaning that unless we have an extra wave f and g (probably not) the triangle could erupt violently to the downside at any moment. Targets are 1150 yuan or around $190 USD. Triangles are terminal so I will be looking to take profit at targets.