He is drawing a mega figure to make way for a major rally. As mentioned in another article, in 1240 BCTUSD is the technical maximum of a first phase and since then we are in bear market , we're back around , meet or even exceed this level .
I estimate that in 1240 has ended up a great wave that has since been corrected , with the fall from there to 455 ( A) the first part of a large ABC . Since 455 we had a rally ( a) to 1096 and from there a drop to a minimum Monday in 500 ( b ) and without falling from 455, seems to be a wave up may well exceed the 1096 and even 1240 ( c B ) .
By then the feeling will be super bullish and that is why we come worst a C wave down withering , the final part of a fix that should correct nothing more nor less than a section from 1 cent to $ 1240. Therefore, do not expect nonsense, the final correction Bitcoin make you curse and you must remove the desire to store even the most ardent fan .
With trading on the floor, many start ups can fail, as they depend on a high value of Bitcoin and hosted by "main street" , that after the end of correction back before long . Nor will it be profitable to undermine and even less difficulty to be had.It could be something similar to when no longer convenient gold mining and production slows down because the cost of mining an ounce is higher than its price.
I seem to see in the Bitcoin movements that remind me of many commodities, far more than any currency.
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