When you look at the chart going back a few months, it is pretty clear that that symmetrical like triangle is a part of the uptrend and NOT recent downtrend. Also, since it is symmetrical, that would be a good omen coming out of a big upmove. But I agree with you, I don't know. 
Uptrend? Where?
Oh you mean this:
C'mon, clearly a bubble!
Edit: And this, children, is why we use logarithmic charts.
Thank you! And can you tell us, as others including myself have asked, where did you get that Logarithmic chart? Was it built custom from Gox data?
IAS
This charts was from bitcoincharts.com. Try, for example, http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zvzl
Tick or untick the "Log Scale" box