So far so good, a low volume pullback is forming the right shoulder of the inverse H&S pattern. I bought another 100k bts today, and will buy more if we drop a bit more.
The order book on btc38 is as full as I've ever seen it, both on the buy and sell side. Its is around 10 million BTS to go up to .120 CNY or down to .084 CNY! Both are much higher than normal. Multiple million+ hare buy walls and sell walls exist! Very interesting.
Based on posts by a couple expert elliot wave chartists on bitcointalk, it looks like bitcoin is in an ending diagonal of the final decline of this bear market. A decline to somewhere in the 250-300 range is expected, which would be the final low of the bear market, followed by the beginning of the new bull market. If this occurrs, it would make sense that BTS could fall to .090 CNY or so, form the right shoulder of the pattern, and then rocket up.
If we have a drop in the next week or two, I think it should be bought hard! Of course, nothing says that BTS must go down along with bitcoin in this final drop. After all, ripple has already begun a bull market move.