interesting read, thanks for pointing that one out.
P.S. did you read that reply from bassclef about the "On Balance Volume" indicator (OBV) ?
That is very interesting as well. I've never heard of that indicator but IMO that guy's totally right - volume is a potentially more interesting parameter than price since it actually reflects more on proliferation of the market and actual number of coins changing hands.
Luckily, the phenomenal Bitcoinwisdom has that indicator on hand....
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:on_balance_volume_obv
yeah, i read his reply too .. a lot of brainfood in there
Found the following also interesting
There is often frustration of traders who cant figure out when the market hasn't behaved like it should, or their favorite technical indicators have stopped working. They simply aren't looking at the market in the correct way.
Today, the composite man (biggest money movers) is bullish and has been since capitulation. This can be seen on the charts, as the rising bottoms during this trading range indicate that rising price levels have been supported and there's not enough supply available to push the price down. He won't fight this difference in supply and demand by trying to sell short as it would be too expensive a maneuver. Instead he propels the market upward, leaving the bottom behind, using the path of least reistance and capitalizing of the fear of missing out.
It kinda reminds me of someone that does the same for DRK (or at least seemed to be doing the same till the rebranding hit us)
