I may regret this in the morning, as it will cause some people to want to trade against me, but I feel that I need to put it out there. Bitcoin TA is heavily manipulated at the moment, by at least 2 parties. Be careful out there.
Like the new wall of 1800 btc at 740 on Gox..
Why would one put such wall at that price if not to try support the price..
To encourage front running bids you can sell into before you pull your wall lower. I'm not suggesting that is what is happening here since I'm not really watching the market tonight, but sometimes that is the motive.