This isn't really an idea. I was just pattern searching btc history to get a feel for the current surge.
The Bear-side of me I thinks that we are about to drift then fall into the desparation phase of bubbles. Just as we thought bitcoin was out of the dark ages, it might get yanked back down - to shake out the last of the non-believers.
The Bull-side of me thinks that this is a normal fib 38.2 retrace and that that the media surrounding this surge will generate a lot of new buyers. They in turn will push this back up to retest 3350 with even more Bull power.
The question is - will the new buyers arrive in time to prevent the kind of downward drip slip we saw in november 2014? We'll soon find out.
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