July 2011 was an exciting time since the first big BTC bubble had recently burst. The 4th of July weekend was a nightmare for Bullish traders because the prices kept falling....and falling.
I noticed something which could be called The "Holiday Effect".
Some holidays are slow, this applies to when prices are
really moving:*People are traveling, arriving, spending time with family etc.
*By the time they get a chance to check the market (for more than a brief few seconds) dramatic changes in price have occurred.
*People who are prone to emotional reactions/hasty decisions might be even more extreme since they are surprised and concerned about not being able to keep an eye on the market.
*Traders who normally remain calm might finally lose control and do something extreme.
In 2011, the result was "endless selling" as travelers checked in and just kept selling.
The last ~5 hours have seen a very powerful up move for BTC.
Are we seeing the Bullish side of the "Holiday Effect" as Americans traveling this weekend finally check in online (and come back from the nightclubs)
to find prices up, up, up....and they do not want to miss out?Have a fun weekend. 
