Bitcoin's percentage move action today is ultra bullish for the medium long term. (I wish I wasn't writing this because it is my best rational analysis of markets but the absolute figures involved conjure up emotions and make it sound like pumping and bubble-licious talk ... but some people might like to hear it.)

I thought I was dreaming when I saw the stilletto it painted at $25-20 correction (25% stilletto in matter of minutes) and thought to myself this sucker is going to $50 maybe $75 or higher ... then it did the same thing again when it touched $50 for first time and retreated to $36 (25%) and then bounced back in next to no time ...  these stilletto patterns all the way are evidence of more money waiting to get in basically "buying the dips" analysis but a little more sophisticated analysis of post dip action ... it is not the collapse that is the tell it is all in the bounce back and follow through. Sawtooth trading analysis is something very similar from commodities bull runs that uses similar patterns.

Now, today it just dropped from $260 to ~$110 and is bouncing back by almost 80-100% off the low ... this is a mother-of-all stilletto pattern that has got my hands shaking. We could easily be going north of $1000 in the medium term and bodes for higher again in the longer term.