TA is effective but not applicable on that tiny market.

/thread

Does this mean we have a breakout of your channel?

my humble analysis:

Bitcoin got some traction in the last few days. People started using it with the services that offered it as a payment alternative (maybe because they find some security/privacy in that).

People who sell Bitcoins (miners/hoarders/business operators), might thought that holding their bc for a few days won't hurt and will actually make them some income (as bitcoin is appreciating from demand/popularity). so they did hoard their bitcoins, and the price continued it's steady (and yet fast increase) as demand carried.

Now come the speculators (like the guy taking a $15k loan to buy bc). And when the speculators come we are about to see a boom and bust and life will be back to normal (expect for some wealth which changed hands).

no TA bullshit 

It is not a belief, it is a fact.
And this thread proves it.

Nice shooting star so far. This one oftenly defines bubble top. Especially out of log scale trend.

But I will define down trend if this shit will close below 32. Hehe.

Wow, broke $40 without any support! 

1. there can be people who are bad at technical analysis, and yet it is still valid.
2. you can't prove a negative; in order to prove that technical analysis is not valid, you must disprove the existence of time-dependent autocorrelations in price data.
3. thanks for providing good contextual opening for my new thread
4. any further discussion on this point should occur in my thread or in a thread of your own, so as not to hijack lucif's any longer.

It was so predictable 

Bear pennant with bottom at around 30th