I'm sort of sick of hearing the comparisons with 2011. I agree that there are some levels that the 2010 bubble sort of indicates are support, but honestly. The charts look completely different. I'm not saying this in a bull/bear way, it could be better than 2011, it could be worse than 2011 in that there isn't a rally soon after. Whatever. All I'm saying is its not 2011.
2011:
http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-06-04zeg2011-08-13ztgSzm1g10zm2g25http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-06-04zeg2011-06-13ztgSzm1g10zm2g25As you can see, the crash was a LOT slower in 2010
http://bitcoincharts.com/charts/mtgoxUSD#rg60zigHourlyzczsg2013-04-06zeg2013-04-13ztgSzm1g10zm2g25Next, the bounce held for a lot longer (is holding), i.e, we aren't dipping below $57 yet.
Now:
http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2013-04-06zeg2013-07-02ztgSzm1g10zm2g252011:
http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-06-04zeg2011-09-01ztgSzm1g10zm2g25I suppose you could argue that in 2011 it bounced off $5, but our bounce took roughly 2 days while their bounce took roughly 2 months.
$10 looks like the bounce-off point for 2011, and even if it breaks $57 somehow tomorrow, we still have lasted above the bounce point about twice as long as in 2011.
/|
The crashes look nothing like each other, other than the fact that the price goes _/ \_. Only, we don't even know the bottom yet, so we don't even know if it'll look like that.
So while I agree that people are obviously going to put walls up at $17 if it ever gets down that low, just because they
think this is 2011, it
isn't 2011, so using that as evidence or analysis is sort of bad unless you are just trying to figure out where somebody might put up a bid/ask wall.
