Update: Well, it escaped the yellow triangle and avoided the regular crash cycle. Why? Bulls are probably seeing a pattern like
and apparent rising support/deflation hinted at by the 90 day moving average.
I drew a regression trend through December and it automatically encloses the current move. (Try it). This suggests to me that it really hasn't broken out of the downtrend (Tricky one, gox). To confirm it, price will likely hang out in the yellow box for a day or two and then break either up or down. My guess is down by Saturday/Sunday, but I'll keep an eye on it. Volume has been very low. Between Christmas and New Years it seems logical that money could be short over the weekend. I may be seeing patterns where there are none, but this will likely be followed by another cycle (dashed lines).
I drew a regression trend through December and it automatically encloses the current move. (Try it). This suggests to me that it really hasn't broken out of the downtrend (Tricky one, gox). To confirm it, price will likely hang out in the yellow box for a day or two and then break either up or down. My guess is down by Saturday/Sunday, but I'll keep an eye on it. Volume has been very low. Between Christmas and New Years it seems logical that money could be short over the weekend. I may be seeing patterns where there are none, but this will likely be followed by another cycle (dashed lines).