If you go on bitcoinwisdom.com and you click on the bitstamp chart, you will see ryans theory play out in real time. Every time huge buy support begins to stack up, the price falls immediately because buy support doesn't "support" those looking to get in it "supports" people who are looking to get out with profits
it's all a backwards thing
It's funny you say that cos btc just dropped from $242 to $237 lol, btc is definitely turning around though $300 isn't that far away
and that whole thing about buy support only being support for people looking to cash in, that is how people are able to maintain careers as daytraders while everyone else fails and cant get it right.
you have people who think they are smart by trying to get in on the buy side,, then you have people who actually are smart because they bought a shit load of bitcoins at $150 in January and are cashing out every time support appears
the same thing happens with alts
it's a funny little game this whole trading stuff