chessnut
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March 29, 2014, 01:13:57 AM



I cant do the chart much justice with my software.

note that the fourth wave was a contracting wedge, a big final stand off betwen bulls and bears. liquidity dried up before panic set in and the crowd went into panic.

Like MAbc says, this may just be an ABC correction, but strategically speaking it is a solid buy opportunity because it suggests days of consolidation, while it is possible that a primary wave has unfolded on Bitstamp off the lows.

I maintain that sentiment is very dark at the moment and I suspect too many people have sold looking for 'cheeep' coins.

the fractals are very clear on a smaller scale, wave three is three clear waves within its self, validating that 465 is a significant point.

If however 465 is broken violently with momentum, this might suggest that we are undergoing a third wave down of one higher order (or a C wave down). This would be big, but I do not expect that because we are already bearish, and the time scale that this news could effect would not be so big.

I maintain that I am holding from 475.