Post
Topic
Board Speculation
Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
by
Wagner2014
on 11/07/2013, 04:59:01 UTC
^ a short term uptick was necessary and expected...before resuming the overall medium term downward trend...the pattern remains: lower highs and lower lows...that pattern has not been broken yet....

How can you say that after checking out the 12 hour chart, such as below:

http://bitcoinwisdom.com/markets/mtgox/btcusd


How can I say that? Because I'm not stating an opinion on the 12 hour chart. Try checking out the daily chart. Beginning on April 23, 2013 we have been on a downward trend - of lower highs and lower lows. That trend has not yet been broken. That's the point I was trying to express. If the trend continues we should hit a new low in the next 4 or 5 weeks, right in time for the doldrums of August.