Quote from: yayayo on May 20, 2014, 09:54:21 PM

Quote from: Wandererfromthenorth on May 20, 2014, 07:09:58 PM

some ask why a sudden increase in price? what's the news?

the reason is simple, and it has nothing to do with news!

Trend reversal was about to happen only if we had these conditions:

-Important breakout points broken and crossings of trend lines
-sudden rise in volume

Do you think it's a coincidence that the huge sudden spike for no apparent reason (no news) happens when two lines that touch several crucial points in the graph meet PERFECTLY for the first time ever? Wink

You can always draw different trendlines. The lines shown are also manipulated to some extent, because if you look closely they were already pierced before. The question is: Did you draw these trendlines long before to predict the breakout or did you draw these trendlines after the breakout to find an explanation?

I doubt this is a lasting trend reversal, so expect to adjust your trendlines... Cheesy

ya.ya.yo!

You are not serious? the trendline is pierced because traders test all the time any trendlines. And they test it because the line is there long before they are testing it. They is no adjustment... TA id predictive not to explain thing after the fact like people look at news to explain why bitcoin spikes.