Re: Why trend reversal? -> basic technical analysis! trend lines is all you need :)
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?
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?
Thanks for your analysis - Who knows?
Though what you've speculated makes sense. I too think a sharp fast (2Hr) dump back down to $450 could happen, largely due to the sudden increase in Vol.