No much waves counting recently - so here is my humble attempt. My conclusion is that we finished a monthly scale wave and are now for a monthly scale correction - but there is one detail that is not fitting.
So here are the pictures:
This is the big picture - we have finished the correction after the first wave and are now into the 3rd wave (that means up up up). And this is what was going on in latest weeks:
We had clear, finished 4 waves (1 impulse, 2 correction, 3 impulse, 4 triangle correction). The only question is is the 5th wave finished? If it is then we'll have a multi-week correction, if not then we might yet reach 10 in a few days. Let's see the last wave in more details:
So we had pretty clear 1, 2, 3 and 4 waves - but no 5th. My personal theory is that it failed, most probably because USD shortages on bitcoinica removed the momentum from the upward move. If it is so - then we are now for the correction. But maybe we are still in the 4th wave?
I am still undecided myselfj. I have sold half of my BTC - it's not very rational profit maximizing strategy - but at least I'll be able to reconcile myself if the price go any way.
