Quote from: Tzupy on December 19, 2014, 09:04:23 PM

Quote from: unent on December 19, 2014, 08:32:37 PM

Quote from: Tzupy on December 19, 2014, 08:18:10 PM

The bid side has recovered somewhat, 6h PSAR has flipped to bullish, but 15 min MACD looks bearish.
A quadruple top, yikes. Will there be another dump before a strong rebound, that is the question?

Does a classic double top usually happen before a crash, and a triple top happen before a rally?

Does a quadruple top have significance in TA?

A triple top is also bearish. Breaking support at 305$ would trigger a large dump.
AFAIK there is no quadruple top in TA. But if a breakout succeeds after this, it would look bullish.
I interpret the quadruple top as a temporary inability to break resistance, this can change tomorrow.

The $300~ support level has been tested several times in the past few months (since ~september) and such support appears to be very strong. Breaching this level will probably result in further price declines of at least $40-$50 in the near term