Recapping, mostly for my own reference:
Sell when/before a whale does, catch the knife, ride out the bull trap, sell on the market-order-frenzy peak, then buy when the dust settles. Easy right?
Step 1. sell
Step 2. catch (buy)
Step 3. ride (--> sell)
Step 4. buy
I hope I'm right! Go fractals!
[edit] SORRY these numbers don't have anything to do with EW theory. Please don't confuse
So I guess the logical extension of this conversation is... where does #3 land? My guess is 850-900 based on price ranging through this weekend, though volume was pretty low even for a weekend, so that may not be accurate. And yes, #4 should be somewhere in the twilight zone. I would consider $500 reasonably safe based on price action Nov 19-20. I would consider $315 nearly indestructible, and $266 psychologically indestructible. However, momentum may carry us past some of these points for brief periods.
All prices in Gox.
And to keep things in perspective, please notice the double-exponential (exponential on a log scale) over the past couple years: