With the mother of all triangles that closed in the last few days, I think this is relevant:
Another point to remember and one which does not conform at all
to the coil simile is that the farther out into the apex of the Triangle
prices push without bursting its boundaries, the less force or power the
pattern seems to have. Instead of building up more pressure, it begins to
lose its efficacy after a certain stage. The best moves (up or down) seem to
ensue when prices break out decisively at a point somewhere between half
and three quarters of the horizontal distance from the base (left-hand end)
to the apex. If prices continue to move sideways in narrower and narrower
fluctuations from day to day after the three quarter mark is passed, they are
quite apt to keep right on to the apex and beyond in a dull drift or ripple
which leaves the chart analyst completely at sea. The best thing to do in such
cases is go away and look for something more promising elsewhere in your
chart book.
- Technical Analysis of Stock Trends
to me that would be a brilliant piece of information, if it holds true.
tentative growth would be good for bitcoins legitimacy.
in terms of volume, during feb/march were there similar periods to the last 3 days?
in other news looks like manipulator/big player took about 1mil off the bid book somewhere
