I posted this on Ron's chart at tradingview.com/v/lIKpfR37/ and from the resulting comments I felt I had to publish this to avoid disappointing any interested ones.
As you will note this chart is an update of my previous charts not a revision. The overall EW pattern and likely downside target for now still remains at 320-300 (preferred).
However, the Time Symmetry pointing to 10th May in last chart actually coincided to intermediate lower high rather than the expected low. So I revisited the Time Symmetry and in this chart only include minimum details for the chart and the main features to stand out.
Now the possible low could be expected later May 2014 which is similar to my other weekly chart which many of you have seen many times over last few months. Whether we find the time symmetry holds or not, the price is more important to me in this context.
You cannot imagine what this will do for me in achieving the said target and on time would be awesome.
It is hoped that supporters will have had the taste of analysis over the full cycle. In particular to my "Critiques" it will show that there was some method in my madness and will concede the fact that they did not dislodge me from following my analysis.
So do consider this chart in conjunction with all other related charts as we have been following the development of this bearish cycle since Jan 2014 top.
Let me know what you think. But please don't bother if you just want to vent your frustration. Thanks.
So much consensus around a move to 320 on the interweb. This is a strong indicator for me that there's no way that's going to happen.
ostaphedge
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130$-200$ wil be bottom
AKWAnalytics
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The likelihood that you are correct is very slim in my opinion. Anything is possible, but some catastrophic exogenous event would be needed to precipitate such a move (bigger than a China ban).
Good luck if you are holding out, I've have seen this exact same story play out repeatedly in bitcoin for the past two years...
ostaphedge
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It was not apocaliptic when bitcoin fell from 30$ to 2$ (15 times). If we are in same situation, than 1200 : 15 = 80.
LastBattle
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That was when Mt.gox got hacked for the first time isn't it?
ostaphedge
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there were many bad news besides gox's problems
LastBattle
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$10 will be the bottom
ostaphedge
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I don't think we will see less than 130$ ever
LastBattle
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LOL.. trolling haha..
Ignore that
MAbtc
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I would say there is *very little* consensus around that target, actually....