Nathanael

Ending Diagonal (Update)

Short
MTGOX:BTCUSD   Bitcoin / U.S. Dollar
4
I have done some math to upgrade the precision of my c wave ending diagonal .

Wave 5 (or e) must not be longer then the length of wave 3 (c)

The length of wave 3 (c) is exactly 277.00.
I got that from subtracting the top of wave 3 (837.00) from the bottom of wave 2 (610.00)
837 - 610 = 227

Currently as I publish this chart, the top of wave 5 is around 916. The longest wave 5 can be is exactly 227 points higher then wave 4 which equals 942.60.

Therefore, if we break 942.60, then this analysis is completely wrong, and I have incorrectly counted my waves, and I will be made fun of on reddit.

What I don't really know is where we will end up, I'm guessing from previous support, and fibs, we will end up at least below the 500 line.

Thanks and good luck!
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