Since the early June 2014 high at ~$685, the XBT/USD daily chart has been in a downtrend. By early October, it reached $275 and a move lower towards $220 is not excluded as i said on my previous update. For now a good trade idea could be to buy on the dip around $307 with a take profit at $320; or alternatively go short now with $307 as a target and a stop loss placed just above $335.  Recently I dusted off an old program that uses Elliott Waves Concepts and with a short term analysis i’ve a similar target, $310 and $300. The analysis has been made using minute and minuette as order of degrees; it’s common knowledge that minute or minuette wave degree is intended for few days and hours as investment horizon.