The recent action pretty much confirmed these EW's. The large spike upwards could definately be the wave C of the smaller ABC
, which means it ended as wave 2. (It's also a possibility that the spike was wave A, so 1 higher top could follow. Anyway, that doesnt make it less bearish
I think that BTC
will be going towards 1510-1530 yuan, before igniting larger cycle 3 to 1440.
The downwards movement will end after the first bottom below 1440 (roughly expecting 1380 ~ 1410).
A upwards retrace to around 1440 will come after this.