Quote from: piramida on May 19, 2014, 01:20:03 PM

Quote from: TERA on May 19, 2014, 12:51:04 PM

I noticed a pattern:

There was an increasing slope of support level, which was broken.

I'm not saying it's dropping to the purple line on the bottom but there is nowhere on the chart to look at besides that. It is clueless guesswork to try to find where support will be.

But why do you ignore the low in your second support line? Try drawing an actual support, you will see a very convincing rebound now.

If that supposed to be a joke, sorry I missed it then.

The purple dots and lines are drawn based on the 'elbows' of each cycle, meaning where it stopped going sideways and started shooting up. Silk road does not count because it was an outlier caused by an unusual circumstance, placing a flashcrash in a very odd location, and only lasted for one day. I do not use silk road data in any of my charts.

you could use the same trend with the peaks also. in that case the trend was broken in December