BTCCNY EW Analysis - triple zig-zag could end the down trend.

30 ביוני 2015

This is a nice count for bitcoin that has recently come to light considering two factors, the local formation of a triangle and the breakup of the grand log down trend. The local formation of the triangle is important to note because it is the only way imaginable that bitcoin could bottom without forming new lows as triangles may be the terminal wave of a triple combination.This is particularly attractive because of the perfect alternation within the count. we have a flat, a zigzag and then a triangle.