Re: Why trend reversal? -> basic technical analysis! trend lines is all you need :)
TA is a self-fulfilling prophecy.
Kinda funny to see that yesterday very few wanted to buy around 440-450, but now people are fighting over almost $500 coins.
Kinda funny to see that yesterday very few wanted to buy around 440-450, but now people are fighting over almost $500 coins.
TA is mass psychology. When grouped together, humans move in somewhat predictable patterns. TA applies mathematical formulas to this. It doesn't guarantee anything, but it is certainly helpful if you know how to use it.
While I agree that in most cases we can create methods of guessing what's going to happen based on the past, Bitcoin is still at the point where it goes through erratic changes. I think this is all just coincidence at this point.