RyNinDaCleM would you mind elaborating on that unbelievably (for me, and I'm a bear!) bearish scenario.
Do you mean that if long term support at 340$ will be broken (and I believe it will be), then what follows might be a death spiral?
Months ago I made this prediction, and I was called insane for making it:
Between 80$ (harsh scenario, 2011 like) and 300$ (mild scenario, 2013 like), Gox prices.
Do you mean that if long term support at 340$ will be broken (and I believe it will be), then what follows might be a death spiral?
Months ago I made this prediction, and I was called insane for making it:
Tzupy, what's your ~ target for bottom of Wave C at this time? 
Between 80$ (harsh scenario, 2011 like) and 300$ (mild scenario, 2013 like), Gox prices.
If $339 is broken, it does not automatically mean we go to double digits. It really depends on the count and how the indicators look when we get there. Also what the following waves do after that.
If we break $339, have a valid 5 waves down, divergence in EWO (and some other indicators) on a higher time frame such as Daily, get good (and I mean pretty heavy) volume to get a strong rejection of further breakdown in price, and get a good rebound in groups of 5 waves up, then there is a pretty good chance that the bottom is in. Whew, that's a lot of stipulations, right? Well, you want to be damn sure.
If what we see is volume that's meh, lower lows on indicators and a rise similar to that of May-early June, It doesn't matter if there is a completed 5 waver down, there is likely more to come. At that point, it's time to refer to old support levels, Fibo and looking for the next completed 5 waves down to find a bottom.
So, between 80 and 300 is a big range, but a lot is possible right now.