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Bitcoin: Don't Get Too Excited Just Yet

BITSTAMP:BTCUSD   Bitcoin / Dollar
176 1 3
I don't think this is the big bull market finally taking off again. The wave structure is indicating to me that Bitcoin is still in correction mode, and a rally to about $435 (and not much beyond that, or at most limited in the range of $467 to $500) is the expected final leg upward of an 'e' wave which will give way to a decline to much lower levels than expected before things get better.
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As Bitcoin is in the process of correcting its entire rally since inception, it will tend to seek a final low which is in line with the ending level of it's 4th wave, which was pretty far down there.
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