Very nice, thanks for sharing some data and actual facts.
The golden crosses have appeared but short lived as you can see on my charts takes following Bitstamp prices.
I agree with you that now would not be the right time to buy bitcoin based on the charts and historical data.
I wouldn't discourage traders to hop in and ride this short lived rallies which can be very profitable even on a down turn.. 7% returns in a day etc.
Back on the first post I compared this period we are in to the period lived in 2013 where we saw a huge rally followed by a huge decline.
And to leave with a sense of historical comparison, in 2013 the coin also created a falling wedge with a bounce around the fib line 0.764 ($69) before rallying to $1100s. Why is this important? At today's price and on the last 6 weeks, the coin has bounced and played around $340. Which for this last rally, it is the Fib Line 0.764. The same level before the huge huge rally last year.
Well, this has been broken badly so we can forget about a phoenix revival like the one on 2013.
But since we are talking of historical trends here, the percentage drop of the coin back in 2013 was roughly 78%... which is around the percentage drop we have experience in 2014...
Based on this last sentence, why wouldn't an investor taking a risk here at these levels...
Cheers