After playing with this little one over the weekend (refer to CRI's weekend BitCoin day trade short idea) I thought it would be prudent to take a look at this very interesting 'trading vehicle' from a broader perspective. When I look at the 4 hour chart I actually see harmonics well at work even though it seems this thing is going nuts. First off, you will notice that this isn't the first 'blow of top' for BitCoin. Indeed we basically did the same thing at the beginning of November. After that top, she cleaned herselfup and now we are into its second leg higher. What I find most interesting here is that she came right back to the OTE long ss off the first top and promptly setup another bullish price pattern. The most recent pattern (bull ab=cd and a cup-and-handle) suggested we wanted to trade up into the 1180 area and gee wiz here we are now. While there certainly isn't a top in place yet, those fortunate enough to 'get long' off the last harmonic entry (854.38) ought to seriously consider taking profits at the implied ab=cd target (in and around $1,182).