Quote from: old_engineer on May 11, 2013, 09:34:00 AM

There were a couple of buys worth close to $1M, the exchange rate is up $3 USD in the past 24 hours, $112 to $115, and this somehow broke your down trendline? It would also have to hit $130 by Wednesday to stay above your line. That's an expectation of phenomenal growth, and failure to adhere to this growth doesn't seem ominous to me, it seems healthy.

And while I'm at it, what I don't get about TA is the insistence on straight lines, y=mx+b, rather than parabolas of some kind. The price of bitcoin has been an almost perfect graph of damped oscillations, like this:
http://beltoforion.de/pendulum_revisited/Damped_oscillation_graph2.png

... which is a sinusoidal curve, bracketed by curves, yet all the TAs apparently use straight lines. Perhaps straight lines are used because they're easy to draw?

Probably because slope intercept is much more prominent in standard chart analysis. I see a lot of sinusoidal curves in penny stock...