ivyleague1985
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January 15, 2015, 07:59:34 PM

Yes, this bottom looks like the October one and it is AT LEAST a medium term bottom.

Pull up bitcoinwisdom and look at finex or stamp on a longer timeframe chart (say 6 hours) and zoom out. Look at the volume! Now compare it with the bottom at 275.

If your point is we had MORE buy volume on Oct. 4th at 275, then I agree with you.  And look at where we are now.  I don't see this as reversal.

A reversal is when you can go to a 30m, 1h, 2h, 4h, 6h, and 12h chart and all see the same thing:  rising price on rising volume.

Its possibly a short term reversal. It'll go back down. Here is how $ 275 played out after. .  broke down

http://i.imgur.com/J9Le6Vy.jpg?1



Based on the October event, we may face a similar bear attack once we reach $250 in 24 hours.