CRInvestor

1hr BTCE - Well defined 38.2 Fib fail off full moon madness

BTCE:BTCUSD   Bitcoin / Dollar
The parabolic price spike into the full moon caught me (and I would assume many others) completely off guard. The fact that there was little to no follow through supports the notion of an anomaly and the market is going through the natural process of correcting for that event. Indeed, the 1 hour chart continues to work its way lower after a well defined top/fail at the 38.2% fib (CRI's '1st stop' target). That area (near 472) appears to be a significant 'battle zone' and I wouldn't be surprised to see it tested again. Should it be recaptured, a rally back up into the Optimal Trade Entry ( OTE             ) short zone is realistic. However, bearish harmonic patterns on the initial move through that level suggest either a test of the top of the OTE     &nbs