Esper

Waiting for reinforcements

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
102 0 1
This isn't really an idea.
I was just pattern searching btc history to get a feel for the current surge.

The Bear-side of me I thinks that we are about to drift then fall into the desparation phase of bubbles.
Just as we thought bitcoin was out of the dark ages, it might get yanked back down - to shake out the
last of the non-believers.

The Bull-side of me thinks that this is a normal fib 38.2 retrace and that that the media surrounding
this surge will generate a lot of new buyers. They in turn will push this back up to retest 3350
with even more Bull power.

The question is - will the new buyers arrive in time to prevent the kind of downward drip slip
we saw in november 2014? We'll soon find out.
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