Don't be fooled by this support @ 14200$. BTC is likely to show two more lows, bringing it down into my target zone between 11000$ and 8000$, where I will start buying into alt coins again. I have cash ready and waiting for that.
Right now it looks like wave c of red wave 2 could be done tomorrow or the day after.
haejin thinks this count is less likely, but it is my primary count. The hype needs to wear off. Such a little crash is prefect for turning the sentiment bearish, so BTC can go up again.
I bet, that at the end of red wave 5 of C, a positive news will arise, probably solving the scaleability issue of BTC (at least a short term solution, because BTC is still clogged. At this moment there are still 34000 unconfirmed transactions in BTC waiting in line to be confirmed by the miners. Some have been waiting 3 weeks for their tranaction now. That's just horrible)
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