If i saw only the asks abruptly rising, maybe. But bids just went up $1mill. And bid sum is much better indicator of health than ask sum. We will see. My bid at $114 hasn't been hit, and my secret gox last price thing still hasn't budged.
How do you figure?
I focus on the Ask Sum. When it gets under 40,000, the climb upwards steepens significantly (less buys push price further, more slippage). This grabs the attention of sellers who are waiting for the top. They get itchy fingers. The steep climb up generally means a steep fall down (due to shallow bid depth), unless the price has plateaued for a while.
