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More a case of persistent buying pressure I think, though notice the failure to reach the high after the first bounce off 23.6 Fib (top triangle)  so formed a head and shoulder pattern, when price fell back to the horizontal neckline (Bulkowski method) @ 23.6 Fib it sparked a near full measured move down to complete the pattern on the very next 30 minute bar (00:30 Monday (red vertical line)).



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  or, you could just use trendlines :smileywink:  But that is an interesting study/comparison though, not quite sure how you managed to do that? you 3 hour, my 4 hour. Your low is 16872.13, mine is 16772.13. I presume price dipped down again after you posted? 



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co founders bitcoin sold all bitcoin


bitcoin as good as useless says bitcoin co founder


bitcoin co founder sells entire stash calls it virtually unusable as a currency


I blame the Aussie media for trying to bring down Bitcoin and exacerbating this panic check out short cuts to articles posted by me earlier in this thread.

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Its started breaking throught upwards. Just seen it start looks good and the beginning of recovery. It's got the force behind it. Fingers crossed. I'm watching the 3m chart so I may be a bit too close to the action.

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The 30 min shows an uncompleted double bottom and the sellers haven't given up yet using the underside of the trend line as a resistance level to sell. Price needs to pass above the double bottom 'valley' (rectangle) to confirm the pattern.



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Gold may well have benefited, as money goes out of one asset it looks for a new home. Gold put in a inverse head and shoulder pattern (peak 12 Dec) and gained as bitcoin retreated but has now run into some stiff resistance. Will be interesting to see if the bitcoin support and the gold resistance levels hold.









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Gold was first and smashed through my key Bollinger resistance point on the 1 minute chart and ........................... now Bitcoin doing same. Smashing. Fingers crossed I'm not to close on the 1m charts !!!!

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You'll probably be shocked but I've hardly done any back research on Bitcoin price volatility but it looks like 20% corrections every month or so are the norm at least since July but not October which was nearer 10%. No wonder IG like the futures exchanges need breaks in trading (circuit breakers)........... IG clients obviously much smarter than those with other firms !!!!

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