This is one of the ways I concluded that bitcoin was putting in a low at 160. It's the equal measured move of the 320-460 upswing.
Once this reaction is complete... price will reach for equilibrium.
I am writing a book about all this, will give it away for free. I am also working on a website.
If there is anything you would like to see in a trading website please let me know so I can make the website as good as possible. Until then follow me on twitter https://twitter.com/BallerTrader http://www.ballertrader.com
GoodLuck GoodTrading =)