Post
Topic
Board Speculation
Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
by
Abandon
on 01/06/2013, 18:17:03 UTC
There was likely going to be a big upward rally on the 25th, but the Libery Reserve incident killed it. I'm still not ruling out a large price movement in the short term.

and why do you think this/what is this based on?

If a market is bias upward, and the price breaks support without crashing significantly, then that means it's likely to rebound strongly.

Many bitcoin forecasters anticipated a large rally before the 25th, which was pushed down, and what's pushed down can hold a lot of unspent energy, like a coiled spring.