I've extended the same lines and no, it's not an exotic EW, Fib, BB analysis. At the 2hr view, we're on track to the bottom and now the question becomes: when will the 30-50% capitulation happen?
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It keeps getting weighted down and 7400 seems like the upper limit by the weekend. The bears just took care the pop to 7500, Gox selloff or not, it was just a loan.
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Lots of square waves these days and overall, it's still tracking down. Hearing the bulls breaking out the pom-poms is great entertainment. I hope they don't get rekt.
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