60$ after 500$ probably not, but 60$ after 272$ is possible.
Right now, a 50k BTC dump would take the price down to 140$, and that would be just phase 1.

China seems to have run out of steam.

The 7th November might be even more interesting, if we reach the peak today and then crash very hard. 

It can't be 1000$ and it can't be 1$, stop posting extreme views. This is going to a new ATH and then a massive crash.
The new ATH can't be 1000$, but could be over 300$,  and the crash can't go down to 1$, but it could be below 100$.

The very bottom of wave 4 (in this scenario) was the SR crash, so 110$. I am still in doubt because we stopped falling at 177$.
If we are close to the top of wave B, by my count (in this scenario) we are now in the middle of the second sub-wave of B,
so tomorrow we could see the last futile push up and then we go downhill. If however the push up succeeds and stabilizes
above 230$, then it's possible to have another peak. We'll see soon enough.

Question for notme:
If 233$ was the peak of wave 5, then the peak of wave 3 was 148$.
Then why didn't we drop below 177$, isn't A supposed to be lower than 3?

After selling at 214.5$, I am waiting to see what happens next. There are only 2 possible scenarios IMO:

1 - that the 233$ peak was the top of wave 5, which means that right now we are in wave B and the start of capitulation is close.

2 - that the 233$ peak was the top of wave 3, which means that right now we are already in wave 5 and we'll see a new peak.
For this to happen, similar to the recovery from the SR crash, we'll need to get past the last peak, and IMO it can only happen if
about 15k coins would be withdrawn from the ask side. If we go past 233$ and then drop a bit, I'll buy back at a small loss,
because I'll be sure to make a profit a few days later.

No, it means we'll know for sure which way we are going very soon, at least for China.
To me it looks like we already are in the 3rd sub-sub-wave of the first sub-wave of wave 5.
Only if the market mass panics this may morph into something else, and we'll crash again, but I doubt it.
If we were on a descending trend there would only be 2 sub-sub-waves. The third means we still are
on an ascending trend, which includes some drops, but could reach 300$ at the peak.
How Gox can reach 300$, that I can't yet imagine, maybe China will drag other markets up.

That's because there's more support than on Gox. I wonder, if we go up, how bad will Gox struggle to follow China?

OK. Thank you for the answer.

Even at the very bottom of capitulation, it is unlikely to go below 100$, so I doubt 60$ will be seen again.

I have a question for Lucano: considering that in your analysis you repeatedly talk about the testing of the 233$ peak, the peak
of which EW do you believe 233$ was? Because if it was of wave 5, it is unlikely to touch it again. OTOH if it was of wave 3, then
we are now in the first sub-wave of wave 5, at the end of the second sub-sub-wave or the start of the third sub-sub-wave,
and we are likely to reach close to the former 233$ peak, and sometime later in the third sub-wave to reach a new ATH.
Even if it is so, I'm not sure with which $ this can happen on Gox, there doesn't seem to be enough for a strong push up.

Back on topic: according to the scenario where the peak of wave 5 was 233$, we should be seeing more large drops.
IF those drops fail to happen, then IMO the 233$ peak wasn't wave 5, but just wave 3, and we are probably heading for a new ATH.

The market seems undecided which way to go. Maybe there are too many drunk traders?

The drop is imminent, but it remains to be seen if there will be 3 drops in relatively quick succession or just 1 followed by a slow recovery.

That's my analysis, after looking at several scenarios. But with bitcoin I can't be truly sure about the future moves of the market.
Just wait a bit, maybe the Chinese will overturn the normal wave pattern. If enough fiat enters their exchanges, and more panic buy follows, it may be possible.

If the 233$ peak was wave 5, and we saw the 3 down sub-sub-waves, followed by 2 up sub-sub-waves, of which
the second is much larger than the first, then we should see another 3 down sub-sub-waves.
Those new 3 down don't have to look like the previous 3 down, but if they do, we are on a descending trend.
If they look different, then it's possible to resume an uptrend and reach an ATH.
Right now, we already are in the 4th sub-sub-sub-wave of the second sub-sub-wave, so I expect to go down.
But for now the Chinese keep buying and Gox and other exchanges struggle to follow.
Maybe the Chinese will write a new chapter to the EW theory, exceptions to the rules?

Or they could sell them within the next hour, who knows for sure?

I was wrong in my recognition of the sub-sub-sub waves, the third and most powerful was yet to come, and nicely it climbed,
especially in China. I should have trusted the theory about it, but to me the panic buyers seemed exhausted on Gox.
Anyway, China led this and I should have looked at their charts more. The sub-sub-sub-waves on Gox were difficult to recognize, and
the drop in market indicators didn't mean in this case the large drop at the end of the sub-sub-wave, but an intermediary drop
between sub-sub-sub-waves 2 and 3. What I am expecting is that once the 3rd sub-sub-sub-wave is depleted, the panic sellers
will see the last chance to sell on the rebound, and that should trigger a large drop, as sub-sub-sub-wave 4. That's my interpretation
of what just happened and might happen soon, but we'll see...

Only 2 EW sub-sub-waves were available for 'slow up', and IMO we are at the end of the second, which means a drop.
The conditions for the drop were met on Gox, but volume is very low, and can't drop on such low volume.
China kept buying slowly, delaying the expected drop. Maybe Gox is somehow waiting for China?