This is a four hour chart of last two weeks, i’ve drawn the same symmetrical triangle shown in my previous post, recently the usd/btc dropped a bit after a nice sell of 20,000 bitcoins. The lower boundary estimate of my daily range forecast (available on my twitter channel) worked and the price didnt get through 15.60$ support.
For the next 24 hours i’ve the zone at 15-15.20$ as support, but i dont think it is going to do another lower low if the volatility remains as low as the last three days.
The situation at tradehill exchange is not much different, with falling volume activity after the mtgox reopening and price tied to what happens at mtgox.
Last time i closed a short term trade was at 28.80$ and the long term trade at about 16$, not much happened since then and we need a new ignition of fresh capital from new investors to reverse the current stagnant phase.