It would seem that my initial expectation was that we will get retest of that level, but on close analysis early Sunday morning London time, I was able to call for higher bottom almost on the dot as those who were present could confirm.
So for now I am willing to assume that we do have intermediate term higher bottom at 540 and are now in our final leg up towards 750 zone as round number but that it could be 720 or even 780. New price data will help narrow that range as we progress.
If we do complete that consisting of 3-3-3-3-3 then it is terminal ending entire cycle from 340 low in April .
Incidentally the Time Symmetry you see with possible high round 26th June, that has been on my chart for few weeks now. Nothing to do with the proposed auctioning by the authorities un USA. Might be just coincident or may be TA does have place in the analysis and not just the never ending fundamental cries. Time will tell.
For those who have better grasp pf Bicoincity will never agree to my seemingly twisted view but that is when I think the BULL will be completely confounded. If you want the reason for my view (right or wrong) feel free to check the recording out at https://www.youtube.com/watch?v=OzZ0t9BVLPA
But for now assuming the 540 low holds then I am willing to ride this up to referred upside target. The might consider going into hiding, or may be not.
Bitcoin Address for those who wish to tip - 1Q1jYasGiJxvvYNX2KwwmX8KGoXRMu9rAW
Enjoy the ride.
What they do not seem to grasp is that those development of part of larger cycle which was in infancy. Now that cycle is maturing they could not have same out come. As the cycle mature the upside moves are generally less impressive and correction can take lot longer than previous instances specially after parabolic move lake in 2013.
Based on my analysis and EW interpretation, I am expecting another big drop to 340 or lower. during which time general bullish sentiments will change to despair before the low is in. So the Bubble story might still reappear but much later than many think. May be towards late 2014 or early 2015 before meaningful low is i and new cycle could develop.
So yes I agree with your summary.
Regrading sideways move. it depends on what you mean. If you consider from Nov 2013 high then we could be said to be in the sideways market, if you consider from 540 sideways ie 540-720 as lower and upper ranges. than I say it is not likely. Unless you assume that we have major bottom already established at 340 and that we are in new bullish move to the upside. I have tries to explain why that does not seem feasible in the videos.
Therefore, retesting the last 340 low is most likely or even declining to 400 once we top out on this bounce. But that leg is expected to be in 5 waves. If this expectation fails, then we could be in very complex combination of correction. One that could last for many months to come.
So rather than have all possible outcomes, I am proposing one that seems most likely right now and deal with other s when they are relevant. Hope this helps.
I agree that terminal diagonal would confuse bulls a lot.
However I am not convinced we can expect terminal diagonal at current place? Should not ending diagonal finish some trend? But we do not have any trend now. What you are suggesting is ending diagonal as the end of wave B during flat correction. Is this OK?