All of the bots and traders are still wired to btcChina. Every move on btcChina is immediately reflected somehow on other exchanges. All of the volume on gox is merely an algorithmic interpretation of btcChina (and maybe bitstamp). If there is a 20k buy wall, and btcchina went down, then gox would have a 20k sell. Then when btcchina went back up, gox would have a 20k buy. Any territory can be entered if btcChina leads to there.  As long as this kind of behavior is there, the market cannot recover from the loss of China, and will continue to trend down since btcChina is on a strong downtrend.

I am still waiting to see a recovery that is not led by btcChina.

dUUUUUUUUUUUUUde

Why would you count it in dollars?

I love seeing volume on gox - it gives me nostalgia. It's still NOTHING compared to april though.

Seriously. I made a 30% profit in one minute on a litecoin trade and it was just one of those little green candles - I missed the big one.

Screw this yet-another-china-trap. I'll hold when.

A) It recovers without China.

or

B) 1 hour is crossed

It again recovered in correlation with volume returning to btcchina.. caveat emptor.

So is that the bottom?  On one hand that is technically where the bottom should be under normal conditions. On other hand it looks like an ugly downtrend on both the gox and especially the chinese chart, and looks exactly like the last chinese bulltrap. There's a spurt of buying while speculators/traders take positions and people grab cheap coins to get out and dump on other exchanges - then the next day the volume dies and the fall continues.

These people have some balls

Gox has the lowest volume of all exchanges today.

Wow I'm only holding 20% crypto and I'm still scared and feel like a frigging bagholder. I can imagine those who are all in.

It seems like gox is the only thing holding up the western markets now with its stubborn disregard of china. . I guess I need to put my faith back into gox and look for a bunch of 5k bid walls to pop up to call the bottom.

Just trust the current charts and the emas/MA CDs nothing else. Analyzing the previous charts will get you nowhere.

You know maybe the difference between 2011 and 2013 was the distance we were above the exponential growth trend, so 2011 had to fall further to catch it than 2013. Currently we are at a 2011-like distance. And all these factors you mention: the press, the good events, the investors, combined with China - maybe all it means is that were more and more grossly overbought, and even less able to support this price under less than perfect conditions.

There was no 100k volume done on any exchange. Instead the volume just keeps getting weaker on every down day.

I would really like to see a day with like 500,000 volume on mtgox to give me confidence that a bottom is in. I've been watching all the exchanges and all of the action has been weaksauce - no evidence of any kind real capitulation , plus they're still following BT China which is a sinking ship.

Chinas had a LOWER low than the previous crash.

The bounce was weak.

The order book is cut to 40%.

The support on BT China just vanished and its in a free fall.

BT China is trading $100 lower than other exchanges.

Its possible the periodic spurts of buying are just people arbing and getting out to dump on other exchanges.

The chart looks like it could resemble 2011.