Entire bubble correction since Jan. descends in 3-drives pattern

There are many other projections around trying to guess the "bottom" of the bubble correction, and there are many trendlines and historical patterns to consider in defining that bottom. This analysis ignores the past data and simply looks at the price action since the November ATH as one long corrective series of oscillations "deflating" the bubble. On its own, regardless of historic trendline intersections, this wave pattern (a precursor to the Elliot Wave methods) seems to point to a low of $290 on Bitstamp before finally moving on to the next trend.Yes, this 3-drives pattern is bullish, but only once the final leg down to point 3 is completed. So at this moment, we have a solid drop looming before finishing this corrective pattern. This chart, unlike my others, is with Bitstamp data, as their wedge is better defined without the flash crash dump of late February that Bitfinex and BTC-e experienced.The ratios formed in these waves do not conform to the strict textbook ratios of a 3-drive pattern, but the overall formation is pretty obvious. Bitcoin markets frequently form patterns resembling traditional forex/stock formations, but tend to be not so precise.Another indicator to notice is the Algoview MACDBB, whose oscillations are clearly narrowing since the ATH to the point where we're currently very near a flat signal.UPDATE 5/12: new daily candles are curving right underneath the ichi cloud bulge, won't touch it. See chart update below.