yeah, break out of this correction was 5 months later. Btw, there was a halving event inside that correction (not affected price at all).

70/30 chance of this started correction may take another 6-10 months. Need too see whether weekly candle hold above bb or not. But if yes, it would be a hammer/hanged (( Dump went too far.

As for ethereum. I think this moron Vitalik will bury the entire project if he applies censorship and break "irreversible" feature of blockchain in his dumb fork. This is very fucking dangerous precedent. They don't have idea what they doing. They try to save 3 mil ETH by cost of people trust to Ethereum.

If I see Bitcoin devs saving few ppl's money by ruining fundamental whitepaper laws - I immediately sell all of my BTC and go away.

As for short term, $570 should hold and give a nice bounce because of this. Anyway, this is not similar to short term rally continuation picture

Too sharp decline, went into negative d/bb zone, lower previous weekly candle low. Assume micro rally ended. Some correction expected till autumn-winter 2016.

The most logical ew picture looks like following for me. The supports could be found with trend lines, triangle appexes & fibos.



However I see a potential wave extension here. If so, we'll got a giant IV wave triangle here



Need to wait another year in this case, well. Both cases provide a giant multi year bullish head and shoulders pattern.

And finally. If 700+ levels will show strong resistance, keep in mind this bullish arc, which may result into cup or h&s or other crazy bull shit 

Long term pic...

This looks like kick start:
* Volume starting to wake up
* ADX approaching 40 from downside
* RSI and MACD trending

They feel fine when price walks near  or above upper BB and afraid when it close to its middle. This is normal =)

Okay, I am afraid ppl want pics. Here some trade porn.

Overall picture: Price escapes from overbought conditions. RSI is back to 50, MACD hooks lower, ADX goes to 40.
BB: I am sure ma20 will survive. If not - this microrally under the question.
Volume: Healthy. Price is up (from beginning), Volume rising.
Divergences: None found.

If price will even stay in negative BB zone - "it is called correction" (c) waveaddict. I do not see any significant signs of long term weakness.

Now price didn't even get into daily BB negative zone, didnt even closed below weekly upper bb and most analysts are pissed off. Haha. Rocket is just changing stage.

PS. I mostly will not post graphs, referring to indicators by text.

Sator Arepo Tenet Opera Rotas - is a palindrome with lot of meanings, mine is "founder's work returns harvest". I think Bitcoin dawn is starting and thus, historical III (biggest wave in impulse) is running.

when i was lucif, I posted similar BS during 2013 consolidation.

3 yr ago... Oh my. How fast is time.

Daily sma20 hit (650) - good point to get into.

Hello. Some fractals and extrapolation. Good bye.

its coming... just walked around.

Of course it may pop at some point, then recover, but there wasn't even 4rd wave since 240. All this is the local 3rd.

Anyway, this is above my skillz. I waited this great 3, it comes suddenly. I quit. Bye guys. Analysis ended.

I decline to analze this. The multi year Great 3 has been started.

Gonna visit UDO concert tonight and get some wisdom  He will tell me whats right Happy trading!

Usually it should be a resistance but because of triangle appex year ago.

Yes, I do it regularry. Don't scare people coz path to 38.2% is one shot 

Volatility obviously returns, oh yeah. This was promised on 280 "nice shoot up"