I generally look at support on spikes for higher lows.
Not sure if there is any point in looking at those spikes. In both cases, the Mt.Gox API lag became so high that the exchange was basically unreachable. In both cases, the turn up happened right after that happening. Yesterday's low was unreachable for a huge number of people. Over the Mt.Gox web page, the lowest values visible were just above $40. Any values observed during such a situation are highly arbitrary and random artefacts, created by irrelevant external circumstances in no way linked to the proper functioning of a market.
Thus, realistically speaking, in both cases actually
no low values do exist whatsoever. Any numbers accidentally observed
have to be pruned. We should not build any hypotheses on such non-existent numbers and we should not link them to any other observations, relations or conclusions.
